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Home > World

Ulaanbaatar Unveils 2025 Budget Focused on Infrastructure and Economic Growth

ONLINE TEAM / Updated : 2024-11-28 12:49:33
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Ulaanbaatar, Mongolia – Deputy Mayor of Ulaanbaatar, Davaadalai Tuvmendalai, has presented the city’s 2025 budget proposal to the chairman of the city’s citizen representative khural, Bayar Amarbayasgalan. The proposal, submitted on November 25, 2024, outlines a comprehensive plan for the city's development in the coming year.

Alongside the draft resolution for the adoption of the 2025 capital city budget, proposals for adjustments to tax rates on transportation and autonomous vehicles, road usage fees, and customs duties on central landfill sites were also submitted.

The 2025 budget for Ulaanbaatar is aligned with several key directions and policies:

Stimulating economic growth: The city will foster public-private partnerships to boost economic development.
Addressing air pollution: Efforts will be made to develop ger districts into residential areas to reduce air pollution.
Improving transportation: The city will expand its road network and implement comprehensive reforms to public transport to alleviate traffic congestion.
Enhancing essential public services: Ongoing investments from previous years will be completed to improve access to essential public services.
As part of the government's policy, the capital governor's office plans to harmonize regional development and tax policies, simplify the tax environment for businesses, increase tax compliance, and improve registration and oversight to reduce the shadow economy and broaden the tax base in the coming years.

In line with the mayor's 2024-2028 action plan, the 2025 budget focuses on five key policy areas: regional development, human development, economy, green development, and governance. Notably, the budget outlines funding for major infrastructure projects, including land acquisition costs and investments in the “Metro” high-capacity public transport, “Tuul” highway, New Zuun Modo City, and Selbe Buud Center residential complex.

Ulaanbaatar City Hall plans to implement 164 projects and activities related to urban infrastructure, roads, public facilities, education, health, and green spaces.

The new budget is expected to drive significant development in Ulaanbaatar, addressing pressing issues such as air pollution, traffic congestion, and infrastructure gaps. By focusing on public-private partnerships, sustainable development, and improved public services, the city aims to enhance the quality of life for its citizens and strengthen its position as a regional economic hub.

[Copyright (c) Global Economic Times. All Rights Reserved.]

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