Chairman of the State Great Hural (Parliament) D. Amarbayasgalan addressed members of the State Great Hural following the adoption of Mongolia’s 2025 state budget after a second round of discussions.

Honorable Members of Parliament,

During this regular session, we have deliberated and approved the Law on the 2025 State Budget of Mongolia for the second time.

This budget discussion, which posed a significant challenge to the newly formed Parliament during its initial session, has been both unique and instructive in many ways.

The President of Mongolia, exercising his constitutional authority, imposed a veto on the 2025 state budget and associated resolutions of the State Great Hural. Parliament reviewed the veto and found it to be legally and politically well-founded. Consequently, the State Great Hural issued a resolution instructing the Government to draft a deficit-free budget proposal. This process has drawn significant public attention.

This is not indicative of a weakness or inefficiency in Parliament but rather reflects the principles of mutual oversight and balance among branches of state power. It demonstrates a commitment to upholding the rule of law and revisiting issues of critical importance to citizens and national interests through open public discussion, which is a positive development in parliamentary democracy.

In response to the directions given by both the President and Parliament, the Government revised the budget in its entirety and submitted it on December 4, 2024. The State Great Hural promptly organized a four-stage discussion process, ensuring comprehensive and efficient deliberations in line with the law. MPs engaged in the discussion with diverse perspectives, demonstrating a commitment to thorough review.

By finalizing the state budget without delay, we have ensured that the livelihoods of our citizens, the operations of businesses and enterprises, and the functions of state institutions will continue smoothly and without disruption.

As the Law on the 2025 State Budget is adopted, it is essential to implement the following next steps without delay:

• Standing Committees: Conduct thorough reviews of their respective areas, align MPs’ understanding, and adhere to procedural rules for budget discussions.
• Government: Establish a solid foundation for counter-cyclical economic policies, addressing recommendations made by MPs during the budget review process and focusing on the coordination of state agencies’ overlapping structures and mandates.
• Local Governments: Provincial, city, district, and municipal Citizens’ Representative Khurals, as well as state agencies, should swiftly approve their respective 2025 budgets.
• Budgetary Processes: Synchronize the timeline for drafting, submitting, reviewing, and approving the budget framework statement, budget performance reports, and budget proposals while ensuring the relevant laws are coherent and comprehensive.

Pursuant to Article 25 of the Constitution of Mongolia, the State Great Hural has exercised its exclusive authority to review and adopt the Law on the 2025 State Budget, adhering to the principles of diverse perspectives and the procedural requirements outlined in the Law on the Procedures of Parliamentary Sessions.

Thank you.