D.DEMBEREL: MONGOLIANS TO RECEIVE MNT 70 THOUSAND FROM JANUARY

Ulaanbaatar, /MONTSAME/ Citizens of Mongolia will receive MNT 324 billion in 2010 from the benefit of mining sector. In the first turn, each citizen will be granted MNT 70 thousand starting from February.
On the eve of the New year the State Great Khural (parliament) approved a resolution on the benefit for citizens. Before it, parliament approved laws on the Human Development Fund (HDF) and on its budget. A legal environment has been created thus for citizens to receive homeland benefits. They will receive money twice a year.
In connection with this, parliament Speaker D.Demberel gave Monday a report to media. Present there were Ts.Davaasuren, a head of the Standing committee on budget; D.Arvin, a head of the Standing committee on social welfare, education, culture and science; D.Ochirbat and G.Bayarsaikhan MPs.
Demberel said each Mongolian is to receive money in 2010 in accordance with the law on the HDF. Parliament has approved the resolution to distribute to people 324 billion togrog that are equal to a total size of the state budgets of previous years. Demberel underlined that a preliminary calculation has been done to distribute additional benefits from natural resources to citizens. “In times of global financial and economic crisis, we have almost ensured the budgetary balance. On the other hand, a necessity is existing to properly organize related measures in a period of the increase of mining sector' income,” he said. The state used to give MNT 130 billion for children's allowance, but now it will grant three times more money to all citizens.
After giving the report, Demberel answered some questions.
A: In what form will the money be distributed?
Q: The government is supposed to issue a regulation about this. A majority of MPs consider as necessity to make sort of allowance certificates for people.
A: It is said that a revised civil registration will coincide with the money distribution. How much money will be spent for the registration?
Q: This registration will be conducted at the same time but until October of 2010. It will run separately from the census of population and apartments. People who have problems with personal documents or registration have to tackle them if want to receive the benefit.
A: People predict that the inflation rate would rise sharply after the cash distribution. What about Your forecast?
Q: Various things are being discussed among people on this issue. Parliament has calculated the inflation rate of this year. According to it, the inflation rate will not change after the money distribution. Most of people are likely to spend the money for bank credit or tuition fees. The MNT 324 billion will activate the economy.
A: Will people have benefits further from the HDF? What can You say about the HDF's stability?
Q: In fact, the HDF will have benefits from income of using licenses on mineral resources. The “Oyu tolgoi” mineral deposit has a huge resources. Besides, Mongolia will have additional resources of benefit, for example the “Tavan tolgoi” deposit. When price of copper is stable at the international market, the HDF will accumulate money.
A: Have the Mongolians abroad an opportunity to receive the benefit?
Q: That issue is discussed by the cabinet. It will issue a regulation soon. Hopefully, each Mongolian--both home and abroad-- will receive the money.
B.Khuder
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