AKIPRESS.COM - Mongolia's new President Khaltmaa Battulga opened the traditional Naadam Festival, which also marks the east Asian country's National Day.

Battulga, who took office Monday, delivered a speech at the opening ceremony held at a stadium in Ulaanbaatar, urging Mongolians to work hard to boost economic development, Xinhua reported.

In his speech, Battulga urged the Mongolian people to bear in mind the difficulties facing country, such as poverty and unemployment that are both worsened by debts, and to work hard.

"I would like to emphasize that we have big objectives to achieve in order to stabilize economy," he said.

The Naadam Festival, an event on UNESCO's list of intangible cultural heritage, is one of Mongolia's most important festivals.

Naadam means games, play and having fun in the Mongolian language. The festival features Mongolia's three major male sporting competitions of horse racing, archery and wrestling. Winners of the games enjoy high prestige in the country.

The year 2017 marks the 96th anniversary of the Mongolian people's revolution.