Mongolia aims to push up its economic growth rate to 8 percent and keep inflation below 8 percent in 2019.

‘To achieve the goals, we have to attract more investment. We are working to optimise the business environment and make tax reforms in a bid to restore foreign investor confidence,’ D.Damba-Ochir, head of the Parliamentary Economic Standing Committee said.

Mongolia’s GDP grew 5.1 percent year on year in 2017, compared to 1.0 percent the previous year.

The International Monetary Fund (IMF) has predicted Mongolia’s GDP growth will be 5 percent this year and climb to 6.3 percent next year.