THE OFFICE OF THE PRESIDENT OF MONGOLIA, PRESS & COMMUNICATIONS DIVISION

www.president.mn

2016-03-31




SPEECH BY THE PRESIDENT OF MONGOLIA AT THE MONGOLIA ECONOMIC FORUM



If Mongolia had implemented its mega projects, our budget wouldn’t be facing a shortfall.

Every year we gather at this Forum to discuss issues that we are facing at the moment. People criticize the State and voice their demands. Mongolians can criticize their President of his face. They feel free to express their opinions and I think this is one of the advantages of Mongolia. This is how we define our pathway. This year’s Forum is highlighted as it is being held just before the Parliamentary elections which take place every 4 years.

The Parliamentary election will be held and its result will be available in 90 days. This year’s Forum is special. The people of Mongolia will be voting to elect new Members of Parliament which will have the task to define political, economic, and social policies of Mongolia in 90 days.

Therefore, the issues discussed at this Forum should draw attention of the candidates in the upcoming election. How are the economic situation, living, and private entities in Mongolia?

There is a simple answer – difficult. First, the most people in Mongolia live in difficult conditions. As you can see, the old people are leaving their pension books as collateral and young mother pawn their social insurance for loan to take care their children. People pawn their birth certificate for money. It would be nonsense to say that life is good in Mongolia.

I think if Mongolia had implemented mega projects, the living wouldn’t be worse than today’s. As I mentioned 4-5 years ago, we must use this opportunity and move forward our projects.

I had reminded politicians do politics, economists do their work, and business people take care of their business. I think if Mongolia moved its mega projects forward, our budget wouldn’t be facing a shortfall every year. As you know, Mongolia’s budget deficit reaches one trillion MNT annually and budget amendment made to cut business loans for business and citizens.

Thousands of people and workers in Mongolia are losing their job and opportunities because of not moving forward the mega projects. This is great loss and major negative impact for our country and our people.

If Mongolia took the opportunity to benefit from the 2000s commodities boom, our private entities wouldn’t be facing such difficulties.

Second, today it is not easy for our private entities to work. If you ask, every person who engaged in business will answer “no money”. The number of profitable business and successful companies decreased speed of light. A businessman said to me: “We had to borrow money to pay salaries. There is no talk of new investment or business expansion”.

Mongolia is not a prestigious country and does not have right to lose its opportunities.

Mongolia is not a prestigious country and does not have right to lose its opportunities. Mongolia is a landlocked country and our people chose a difficult path. We are moving forward on the path of humanity.
There are not too many opportunities in our country. Mongolians regard opportunity as butter in our mouth and the old people say “Never lose butter got into your mouth”. Indeed, it was only opportunity for the last few years. We couldn’t take advantage of the opportunity and missed the commodities boom. Once you dropped the butter on the dirty ground, don’t try to eat it again.

Economy is substantial and its loss measured in money.

Indeed, some politicians are irresponsible. I remember a Member of Parliament once said: “I’m proud that I halted one of the mega projects”. I am doubtful that he thought about the people and voters who don’t have money for the treatment.
Economy is substantial and its loss measured in money. While, politics covered by misleading statements and fake promises. Today, we discuss about this loss, difficulties and challenges. How do we cope with difficulties? We cope with difficulties on the way how we got into it. Mongolians should discuss the reason of difficulties. We should find out not only the reason but the solution. We should not only find we should work to implement. We must learn lessons from this and we must not fail again.

There is a long hard road ahead and we have no other way.

I think we will get out of difficulties on the long and burdensome road. This concerns all of us including private sector, economy and ordinary people. There is no other magical way. If we believe in magical words or magical ways once again, it will be the worst misfortune that could ever befall us. If we believe in the words of people who promise magic, the time of getting out of the difficulties will be extended and we will have to discuss about this difficulties at the next session of this Forum once again. Thus, we should understand the correct reason of difficulties.

In Mongolia, information is not censored. Gaining knowledge is the process of gathering information. And therefore, our people are becoming shrewder and they will not fall for that again.

Accountability system is not yet established in Mongolia’s politics.
Lack of good accountability system in politics is the second reason that triggered difficulties in Mongolia. It took too long to establish accountability system. I wonder one thing. We don’t need any money or investment to approve Law on Accountability to make political parties and public service accountable. This is the opportunity to move Mongolia forward without any investment.