Ev­ery child to re­ceive money al­lowances with ap­proval of bud­get amend­ment

The UB Post - - FRONT PAGE - By B.CHINTUSHIG

With the ap­proval of the 2017 state bud­get amend­ment on Novem­ber 9, all chil­dren will be re­ceiv­ing child money al­lowances for the month of Au­gust un­til the end of 2017.

The ap­proval of the bud­get amend­ment al­lo­cated the 104.5 bil­lion MNT re­quired to pro­vide the al­lowances to ev­ery child. The gov­ern­ment had not been able to pro­vide child money since Au­gust, and now 1,043,180 chil­dren will be re­ceiv­ing their monthly al­lowances un­til the end of 2017.

While, the bud­get amend­ment was ap­proved in Par­lia­ment ear­lier, a veto ex­er­cised by Pres­i­dent Kh.Bat­tulga post­poned the ap­proval of the bud­get amend­ment. With Par­lia­ment mem­bers dis­card­ing the veto, the child money al­lowances be­gan to be trans­ferred on Novem­ber 9.

Im­me­di­ately af­ter the ap­proval, the trea­sury fund of the Min­istry of Fi­nance be­gan trans­fer­ring the money through 13 com­mer­cial banks that me­di­ate the child money dis­tri­bu­tions.

For the months of Novem­ber and De­cem­ber, the monthly al­lowances will be dis­trib­uted af­ter the 20th.

In the first half of 2017, faced with an eco­nomic cri­sis, Cab­i­net made the de­ci­sion to ex­pend 76.1 bil­lion MNT to pro­vide the child money al­lowances to a tar­get group of 660,000 chil­dren whose fam­i­lies were clas­si­fied as low-in­come.

In the sec­ond half of 2017, in light of a four to 4.5 per­cent GDP growth and the bud­get rev­enue ex­ceed­ing ex­pec­ta­tions by 500 bil­lion MNT, Cab­i­net made the de­ci­sion to pro­vide the al­lowances to ev­ery child on July 4. As a re­sult, 400,000 chil­dren who did not re­ceive their child money al­lowances for the first seven months of 2017 each re­ceived 140,000 MNT as com­pen­sa­tion.

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