Draft law on 2014 budget submitted to parliament

Ulaanbaatar /MONTSAME/ On Tuesday, the Finance Minister Ch.Ulaan submitted to the Speaker of parliament draft laws on the 2014 budget, on budgets of social insurance fund and the Human Development Fund (HDF). The bill on the budget reflects sizes of revenue and expenditure of the budget for the next year, the bodies that will accumulate the revenues, financial support for local budgets, income to be placed in local development funds, relations of authorized general managers of budgets to exploit the budget money, sources of recovering a budget deficit, and other matters. In addition, the draft aims to form a system of protection for the vulnerable group against a deep poverty, to reduce an unemployment and poverty rates through a good allocation of salaries, pensions and allowance, to improve the social welfare, to ensure the income equality through a tax policy, to abolish a duplication of some kinds of allowances, and to decline the financing of some programmes and measures in order to spend the capital wisely. The draft law on budget for the HDF states that cash allowance will be given to 1-18 year-old children. Moreover, the commission for them will be financed from the HDF in accordance with the other laws on civil health insurance, on financing of higher education and on social guarantee for students. By the law on social insurance for 2014, a financial source will be formed for the cabinet to implement its functional works, and money will be placed in the budget of social insurance fund.