Draft amendments to Budget Stability Law presented

Ulaanbaatar /MONTSAME/ A renewed version of draft amendments to the Law on Budget Stability was presented Tuesday to the Speaker Z.Enkhbold by the head of the Cabinet Secretariat S.Bayartsogt MP. The draft has been withdrawn due to the Parliament’s decision to dismiss its discussion. The previous version has been presented for the Parliament discussion along with the draft amendments to the laws on budgets. The new version of the draft offers facilitating a favorable condition to reduce the debt ceiling to 60 percent of the GDP in 2015, 55 percent -- in 2016, 50 percent -- in 2017, and to 40 percent of the GDP starting from a budged year of 2018, through implementing phases of special debt requirements and offers good debt management.