ULAN BATOR, Dec. 13 (Xinhua) -- Mongolia's parliament, the State Great Khural, has approved the country's first-ever deficit-free state budget for 2025, local media reported on Friday, citing the parliament's press office.
The state budget, approved on Thursday, projects revenue at approximately 33.5 trillion Mongolian tugriks (around 9.8 billion U.S. dollars), accounting for 35.2 percent of gross domestic product (GDP). Expenditures are set at the same level, ensuring a balanced budget.
This historic decision came after Mongolian President Ukhnaa Khurelsukh vetoed the previously proposed 2025 state budget law and related bills passed by parliament last month, urging a revision to achieve a deficit-free budget that would support the country's long-term economic sustainability.
The Mongolian government has expressed optimism about the country's economic outlook, forecasting a GDP growth of around 8 percent and an inflation rate of approximately 7.2 percent in 2025. ■
