11/3/2021
One of the main objectives of the Strengthening Fiscal and Financial Stability project and the Strengthening Governance in Mongolia project, jointly implemented by the Ministry of Finance (MoF) of Mongolia, the European Union, and the World Bank, is to improve budget reporting and transparency by increasing the comprehensiveness of fiscal and financial information and reporting.
The Ministry of Finance is continuously making an effort to enhance transparency, public participation by increasing the comprehensiveness of fiscal and financial information, which is enshrined as one of the priority goals in a Mongolia Vision 2050 and Government action plan. As a result of the Government of Mongolia's active efforts to strengthen transparency, Mongolia's fiscal transparency has been improving year by year, according to the International Budget Partnership's Open Budget Index.
Further enhancing this initiative, the Ministry of Finance has begun to develop a MID-YEAR ECONOMIC AND BUDGET REVIEW in order to expand budget information for the public. The mid-year review provides information on economic and fiscal performance in the first half of the year and expected performance at the end of the year based on it.
In addition, the Citizens’ Budget booklet is developed annually explaining the budget information in a citizen-friendly and easy-to-understand format using the form of dialogues among family members and representatives of the functional sectors, such as health, education, and environmental protection. This time, we are developing and presenting the "Citizens' Budget-2022 Consolidated Budget of Mongolia". The booklet is important for citizens to increase their knowledge of budget and to achieve the outcome of greater fiscal transparency and public engagement.
Citizens’ Budget-2022 booklet provides information about the budget policy to support “LABOR, PRODUCTIVITY and GROWTH” and a package of reform strategies which is developed to achieve the goal of intensive economic recovery after the pandemic in 2022.
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WORLD BANK WORKING GROUP MET WITH PIU AND IMPLEMENTING ORGANIZATIONS REGARDING THE COMPLETION REPORT OF THE STRENGTHENING GOVERNANCE IN MONGOLIA PROJECT
4/3/2023
Concerning the Strengthening Governance in Mongolia project, which was completed on February 28, 2023, the World Bank working group to develop the project completion report had an official meeting with Project Implementation Unit (PIU) and implementing organizations on March 30, 2023. The purpose of the working group meeting is to review the implementation of the project, the results achieved, and the fulfillment of the project indicators. |
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PERFORMANCE BASED FINANCING: INSPIRING NEW APPROACHES TO PUBLIC FINANCIAL MANAGEMENT IN HEALTH AND EDUCATION
3/23/2023
Performance based financing (PBF) links funds or payments to service providers to results achieved and gives them considerable autonomy in the use of these funds. The strategic approach is appealing to many individuals and organizations as it motivates them to perform better and channels resources directly to the frontlines. This in turn fosters greater accountability. Using this approach has been popular in different sectors with some promising results emerging. |
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AN INTEGRATED SYSTEM FOR RESULTS-BASED MEDIUM-TERM BUDGET PLANNING: IN ACHIEVING THE GOALS OF IMPROVING BUDGET PLANNING, BUDGET EFFICIENCY AND PROGRAM OUTCOME.
3/7/2023
Under the scope of improving public financial management, Mongolia is aiming to introduce result-oriented medium-term budgeting, transitioning from the traditional input-based budgeting. This goal is aligned with development policy of Mongolia to shift from medium-term fiscal framework (MTFF) to medium-term expenditure framework (MTEF). |
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The MOF is entering the new phase of PFM Reform Action Plan
2/28/2023
Within the framework of the European Union financed, World Bank managed “Strengthening Governance in Mongolia” project, the Ministry of Finance, in compliance with the “Sustainable Development Vision 2030” and the “Action Program of the Government of Mongolia for 2016-2020”, has approved and implemented the Public Financial Management (PFM) Reform Strategy and the Action Plan for 2018-2022. The overarching objective of the strategy was to improve governance and achieve effective resource allocation and efficient public service delivery. The implementation status of the PFM Action Plan is indicated as “Certain results have been achieved” at the rate of 85 percent. |
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LAUNCHED BETA VERSION OF THE REDEVELOPED GLASS ACCOUNT PORTAL
1/20/2023
The Ministry of Finance Mongolia has developed and successfully launched the new version of the Glass Account Portal in 2023 within the framework of the Strengthening Governance in Mongolia Project jointly implemented by the EU and the World bank. |
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New systems and services are added in the Intermediate service platform for fiscal and financial systems
1/11/2023
The Ministry of Finance Mongolia has developed and successfully launched the Intermediate Service Platform (ISP) in 2022 within the framework of the Strengthening Governance in Mongolia Project. The main purpose of the system is to provide a possibility of information /web services/ exchange between the independent systems of the Ministry of Finance and other organizations in a easy and flexible way. In addition, it is solving the issues of overlapping connections and development between many information systems and organizations, transferring them to a unified standard, making it has no complexity, and more secure. |
