On December 2, 2024, Chairman of the State Great Hural (Parliament) D. Amarbayasgalan received the draft amendment to the Budget Law from B. Javkhlan, the Minister of Finance of Mongolia. The draft was submitted for urgent consideration in accordance with Article 33.1 of the Law on the Rules of Procedure of the State Great Hural (Parliament).

The draft amendment was submitted together with the draft law on the 2025 State Budget, based on the provisions of Article 1 of Section 33 of the Constitution of Mongolia and Article 8 of Section 12 of the Law on the President of Mongolia. On November 20, 2024, the President of Mongolia vetoed the law approved by the State Great Hural (Parliament) in its entirety.

On November 22, 2024, the State Great Hural (Parliament) held a plenary session to discuss and accept the President’s veto. Subsequently, during the plenary session of November 29, 2024, the State Great Hural (Parliament) annulled the law on the 2025 State Budget, along with related legislation. Following this, the State Great Hural (Parliament) adopted a resolution regarding the measures to be taken due to the annulment of the laws and resolutions. This resolution directed the Mongolian Government to submit the draft law on the 2025 State Budget by December 10, 2024.

According to Section 8.4 of Article 8 of the Budget Law, the Government is required to submit the annual budget proposal to the State Great Hural (Parliament) by September 1 and for the State Great Hural (Parliament) to approve the budget proposal by November 15.

As a result, the draft amendment includes a provision to add a new Article 321, titled “Re-submission and Approval of the Budget Proposal,” to the Budget Law.