Mongolian Economy and Finance

Mongolia’s parliament approved changes to the nation’s 2006 Minerals Law, a development that may spur renewed investment in the flagging economy.

Mongolia’s parliament blocked a bill to raise the debt ceiling, a move that could limit the government’s ability to raise money for infrastructure needed to develop the mining sector. 

An irregular session meeting of Parliament is scheduled to begin at 2:00 pm today, September 26th.

The opening of the Autumn session of Parliament will be held on October 1st according to regulations.

The Mongolian People’s Party (MPP) members in parliament have delivered a statement to the Speaker of Parliament, Z.Enkhbold, demanding that the Government of Mongolia, composed of the coalition of the Democratic Party, Mongolian People’s Revolutionary Party and Mongolian National Democratic Party, report work done last year to the parliament.

Members of the Standing Committees on the Economy and Environment and on Food and Agriculture discussed and agreed to establish a task force to study the law on the Prohibition of Mineral Prospecting Exploration in water basin areas and forest areas on Tuesday September 17th.

Members of the biggest opposition Party in the Mongolian Parliament, the Mongolian People"s Party (MPP),have demanded Prime Minister Norov Altankhuyag`s resignation during a press conference on Friday, August 30th with reporters.

Mongolia’s parliament announced on Friday it would hold an emergency session next month, as the country looks to ward off an economic crisis sparked by uncertainty over its biggest mining project and falling foreign investment.

Mongolia is to recall parliament for an emergency session on September 2-6 to pass new legislation on foreign investment, in an attempt to reassure international investors after foreign direct investment (FDI) fell dramatically in the first half of 2013.

During the plenary session meeting of the Parliament held on Friday, the issue to elect the Deputy Speaker of the Parliament was brought onto the discussion table.

According to Constitution law, Parliament is formed of 76 representatives of 21 aimags and 9 districts. All 76 representatives are now sworn in so Parliament is finally complete.

Anti-corruption law states that officials` income and asset declarations should be posted in a State press release in the second quarter of the year.

The Democratic Party caucus meeting discussed the issue of the vacant post of Deputy Speaker on Tuesday April 30th after the dismissal of S.Bayartsogt.

Parliament discussed MP and Deputy Speaker S.Bayartsogt`s failure of including a secret Swiss bank account and offshore company in his income declaration during Thursday`s meeting. MPs reached a decision to ask for the resignation of MP S.Bayartsogt who confirmed his failure as Deputy Speaker with 87.5 percent approval.

For the first time, the Mongolian Parliament has talked about LGBT rights. Gay Star News reports :

April 1 (MIBG) The spring session Parliamentary agenda has been finalized by the Speaker of Parliament, Mr. Enkhbold, with the first 10 items to be addressed as follows:

April 1 (MIBG) The first year anniversary of the current parliament is fast approaching.

The Fall Session of the Parliament or the State Great Khural has taken a break and the Members of the Parliament (MPs) are working in the electoral districts.

The plenary session meeting held on last Thursday approved the draft resolution to establish Acting Committee “Mining Development”

The Director of the Parliamentary Sub-Committee on Human Rights (PSHR), D.Ganbat, has criticized the conditions in Women’s Prison 407, following a visit to the prison and to Juvenile Detention Centre 411, United Prison 401 and newly-built Prison 439.