On April 5, 2017, the opening of 2017 spring session of the State Great Hural (Parliament) of Mongolia has been commenced due to relevant law and regulations.
The opening remarks was delivered by Chairman of the Parliament M.Enkhbold and present at the opening were President of Mongolia Ts.Elbegdorj, Prime Minister J.Erdenebat as well as heads of diplomatic missions and representatives of international organizations to Mongolia.
In his opening remarks, Chairman M.Enkhbold noted, “The State Great Hural made a revision to the 2016 budget and approved the 2017 budget law, it paid a specific attention to ensure budgetary discipline, to unify five individual unsupervised budgets into one, to adopt austerity measures, and to increase income and cut spending. Sustained efforts by the Government to implement the policy and measures adopted by the Parliament have produced some positive outcomes in financial and economic terms. For instance, as of the first two months of 2017, the consolidated budget structural revenue, aid amount has risen by 36 percent or by MNT 254.5 billion compared to the same period last year and the income plan had been fully implemented.
After long and uneasy negotiations with the International Monetary Fund, the Government of Mongolia and Mongol Bank concluded preliminary agreements on implementing the Extended Fund Facility program. This program from IMF will assist us in conducting reforms directed at improving financial sector governance and strengthening monitoring capabilities. We are confident that the program will result in overcoming economic difficulties, stabilizing the country’s financial and economic condition, reforming of banking and financial system, attracting investors and improving of citizens’ livelihood”.
After, President of Mongolia Ts.Elbegdorj addressed at the opening session and in his speech President highlighted that we must work for equality, inclusivity and accountability in our governments and societies as well as to promote accountability and good governance in our society.
Press and Public Relations Department of the State Great Hural of Mongolia