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AmCham Mongolia Daily Newswire

October 8, 2018

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Some MPs develop a bill on the Children's Money Program
A group of lawmakers, led by Member of Parliament S. Byambatsogt, submitted a bill concerning the Children's Money Program to Speaker of Parliament M. Enkhbold on October 5. Originally, enrollment in the program for monthly welfare payments was eligible to all Mongolian children, but currently, 80 percent of all children (912,000) are enrolled in the program, and a total of 205.1 billion MNT has been allocated for allowances. The bill proposes enrolling 85-90 percent of Mongolian children in the program, which would require an additional 13-27 billion MNT.

The National Post /page 2/
National Investment Program to be developed
On October 5, the National Development Agency (NDA), the Ministry of Finance, and Japan International Cooperation Agency (JICA) signed an agreement to develop a National Investment Program and improve the government's capacity to manage state investments. The state's authorities will create a list of investment projects, proposed by ministries, agencies, and provinces, to be reviewed under the program. The program's implementation will include project monitoring, evaluation, and funding approval mechanisms. The project will be carried out from February 2019 through 2023.

Today /page B1/
Brokerage accounts opened by 24,682 individuals in September  
Following Cabinet’s decision to begin the trading of Erdenes Tavan Tolgoi shares on local and international stock exchanges, more and more members of the public have opened brokerage accounts. While the average number of new brokerage accounts opened in the first half of 2018 stood at approximately 6,000, it reached 8,902 in August, and 24,682 in September. The Mongolian Stock Exchange announced that its Millennium CSD system, designed for registering brokerage accounts, will be available on weekends until the end of November.
Today /page B1/
BoM forecasts Mongolia’s 2019 economic growth at 5-8.5 percent
According to the Bank of Mongolia's (BoM) 2019 Monetary Policy Guidelines, the Mongolian economy is expected to expand by 5 to 8.5 percent next year, with non-mining sector growth at 6-10 percent and mining sector expansion at 0-4 percent. The BoM reported that one of main priorities for 2019 is to bring the nation's foreign currency reserves to at least to 6.5 billion USD. Mongolia’s foreign currency reserves were at 2.98 billion USD in June 2018, 43 percent lower than the ratio set out in the National Security Concept of Mongolia.
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