Khaltmaa Battulga of the opposition Democratic Party, a businessman and former judoka, is poised to win the Mongolian presidential election with more than 50 percent votes, according to the preliminary results.
Miyegombyn Enkhbold, candidate of the ruling Mongolian People's Party (MPP), acknowledged defeat in the second round of the country's presidential election on Friday, Xinhua news agency reported on Saturday.
The MPP recognises the outcome of Friday's election and respects the choice of the Mongolian people, Enkhbold, Mongolia's parliament speaker, said in his first statement after the release of preliminary results of the presidential run-off.
So far, the counting of votes by Mongolians in European countries is still underway and the election's final result is yet to be officially announced, Xinhua reported.
"I exchanged views with the current Mongolian President Tsakhiagiin Elbegdorj on organising the inauguration ceremony for newly elected president of Mongolia on 10 July, on the eve of the Mongolia's national festival Naadam," Enkhbold said.
"After the announcement of the final results of presidential run-off by the country's General Election Commission, the Mongolian parliament will hold an irregular meeting to consider the preparation for the inauguration ceremony of a newly elected president," he added.
Over 1.2 million people cast their ballots in the seventh presidential election of the resource-rich country, with a turnout of 60.48 percent.
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