ULAN BATOR, Oct. 1 (Xinhua) -- The autumn session of Mongolia's State Great Khural, the country's parliament, opened here on Monday.
In an opening speech, Mongolia's Parliament Speaker Miyegombo Enkhbold urged government authorities to address the top concerns of businesses and create a more friendly environment for investors in order to boost the country's economic growth and improve people's living standards.
"Recently, Mongolia overcame its economic difficulties. Now our economy is recovering," Enkhbold said, emphasizing that without concrete actions to improve the business environment, it would be impossible for the country to talk about bolstering economic growth and improving people's livelihood.
Mongolia's economy slid into a crisis caused by heavy foreign debt, a collapse in its currency and global decline in commodity prices in 2017.
Almost one and a half years after receiving a financial aid package led by the International Monetary Fund, Mongolia's economy is now on track to stabilize.
Enkhbold said the country's gross domestic product expanded 6.3 percent year on year in the first half of 2018.
During the autumn session, the parliament is expected to discuss a number of issues, including the 2019 state budget and an amendment to the constitution of Mongolia, and a revised draft of the law on taxation.
