Central Asia Wire
Independent Central Asia Monitor
Breaking
Washington's new tariff law counts Russian gas by volume, and Kazakhstan and Uzbekistan are closing in on its top fiveThe WMO writes the region's water year down: reservoirs below normal from Kyrgyzstan to Afghanistan, the Aral basin's rivers in decline, glaciers with one of their 3 worst years on recordKyrgyzstan widens its fuel export ban to petroleum gases; the Chinese-owned Junda refinery gets a 4,800-tonne exceptionOyu Tolgoi's revenue runs $1.9 billion ahead of plan in 8 months; the copper dividend is still dated 2027
Economy

Mongolia's budget committees vote to strike the spending ceiling and the base balance from the fiscal rule's 9 indicators

A joint sitting of the State Great Khural's budget and economic standing committees on Wednesday backed, with 56.7% of members present, a bill that removes two of the nine indicators from the Budget Stability Law's framework statement, the consolidated budget's base expenditure ceiling and its base balance, and replaces them with a total expenditure growth rate and a capital expenditure amount, Montsame reported at 15:25. First deputy prime minister Zh. Enkhbayar presented it. The committees' conclusion goes to the plenary.

Mongolia's budget committees vote to strike the spending ceiling and the base balance from the fiscal rule's 9 indicators

The bill travels with an amendment to the law on the 2026 budget framework statement and the 2027 to 2028 projections, taken in the same sitting, in Montsame's account. Under the law the framework statement carries nine basic indicators; the two removed cap base spending and fix the base balance, and the two inserted track the growth of total spending and the size of capital spending.

It is the second cut into the rule in 3 weeks. The 2027 budget framework of 2 September suspends the expenditure cap for one year. Between 7 and 14 September an extraordinary session took the 2026 budget rewrite through two readings on a coal windfall, with the Audit Office putting the deficit at 2.048 trillion tugrik, or 2% of GDP, and the Erdenes Tavan Tolgoi dividend of 1.5 trillion tugrik routed to the pension rise from 1 November.

Opposition objections are to the 2027 figures. On Tuesday the Democratic Party group took a three-working-day recess over a 2027 draft with revenue of 41.3 trillion tugrik and expenditure of 43.6 trillion, calling the draft a breach of the law, ikon.mn reported; no other outlet carried the recess. At 11:00 on Wednesday the Budget Stability Council was to present its conclusion on the 2027 draft at the parliament's press office. No report of that conclusion had appeared on ikon.mn or Montsame by 19:50 Ulaanbaatar time.

It is the second cut into the rule in 3 weeks.

The vote was a committee's, on a percentage of those present. What follows is the plenary. Its autumn session opened on 15 September with 87 members in the chamber, 69% of it.