Democratic Party critiques the MPP’s actions on state budget amendments

The Democratic Party (DP) has stated its formal opposition to the ongoing policies and measures that Parliament and Cabinet, led by the Mongolian People’s Party (MPP), are executing.

The DP said that Parliament approved amendments to the 2017 state budget with a deficit put forward by Cabinet, increased seven different taxes, and that they have claimed Children’s Money to repay the state’s debts accrued from loans granted to oligarchs.

According to the DP, the government plans to implement concession agreements totaling 800 billion MNT. The opposition party also claims that Mongolyn Alt Corporation, owned by the Minister of Labor and Social Protection, will be implementing projects valued at 92.8 billion MNT under concession agreements, and that the policies being executed by the MPP are benefiting its party mem- bers.

The government led by former Chairman of the MPP S.Batbold issued the 580 million USD Euro bond with a 5.75 percent annual interest in 2012, and bond financing was used to pay for state welfare distribution. The current MPP government issued a new government bond with an 8.75 percent annual interest to resolve its Euro bond debt, and the DP believes that the MPP government has paid off its old debt by creating new debt with a higher interest rate.

The DP said that the MPP is not fulfilling its campaign promises, which claimed that every child would receive monthly Children’s Money, that pensions would be gradually increased, that no taxes would be increased or created, and that poverty would be dismantled after the elections.