Policy to be implemented to address economic growth hurdlesEconomy
Ulaanbaatar /MONTSAME/ At the Cabinet’s regular meeting, the Revival Policy for economic growth was presented and it will be further discussed at the Cabinet’s next meeting.
As the country’s economy has experienced its biggest decline in the last three decades due to the COVID-19 pandemic and further difficulties have arisen in achieving the long- and short- term goals set before the pandemic, it has become essential to implement a special policy to address impediments to economic growth, which are the capacity of border checkpoints, transport and logistics, energy, workforce, the government’s productivity, and limited funding sources. As part of the revival policy, a comprehensive set of actions will be taken to increase the capacity of border checkpoints, improve transport and logistical infrastructure, and carry out energy projects.
The scope, main estimates, and possible variations of the policy will be developed within this month. The policy is being drafted with three key goals: expand the economic base, increase growth efficiency, and crease a stable economic environment.