At the 20th session of the Citizens’ Representative Khural, Governor of the Capital city and Mayor of Ulaanbaatar Kh.Nyambaatar presented Ulaanbaatar city’s budget for 2024.
The State Great Khural approved the capital budget's basic income of 1.9 trillion MNT and basic expenditure of 1.1 trillion MNT. It was approved that 230.3 billion MNT will be collected to the state budget, and 47.8 billion MNT will be allocated to the capital from the Local Development Fund. An open discussion was held among 250 citizens from nine districts regarding the budget draft, and 637 suggestions were received from citizens. These suggestions were studied within the framework of the financial and budget resources of the capital and included in the budget draft.
The budget draft of the capital for 2024 was developed including the following main directions and policies:
- Reducing air pollution and providing housing solutions for ger areas;
- Improving the quality and standard of public transportation in Ulaanbaatar, introducing new types of high-capacity public transportation, and increasing the number of connecting roads to enhance transportation networks;
- Activating public-private partnership, increasing employment and implementing policies to stimulate the city's economic growth;
- Intensifying the ongoing investment works started in the past and increasing the access to basic social services.
The projected revenue of 2,598.9 billion MNT for 2024 represents an increase of 652.8 billion MNT or 33.5 percent compared to the approved plan for 2023 and 598.5 billion MNT or 29.9 percent more than the anticipated performance. In addition, for the fiscal year 2024, it is planned that 93.1 percent of the capital's budget revenue, equivalent to 2,418.5 billion MNT, will be generated from tax revenue, while the remaining 6.9 percent, totaling 180.4 billion MNT, will be derived from non-tax revenue.
In Ulaanbaatar city’s draft budget for 2024, 46.3 percent or 1.1 trillion MNT of the total expenditure is for current expenses, 40.3 percent or 964.8 billion MNT for capital expenditures, 3.6 percent or 85.2 billion MNT for loan repayment, 0.3 percent or 7.5 billion MNT for financial support for two districts are planned to be spent respectively, and 9.5 percent or 230.3 billion MNT is estimated to be collected in the state budget. The basic expenditure of the districts was reviewed within the framework of the General Administrative Law of Mongolia, Law on Budget and the policies pursued by the government, and it was increased by 45.4 billion MNT from the level of 2023 to 247.8 billion MNT in the budget draft.
MEDIA AND PUBLIC RELATIONS DEPARTMENT OF THE GOVERNOR’S OFFICE OF THE CAPITAL CITY