3/30/2022
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 of Mongolia, the European Union, and the World Bank, is to support the effective implementation of the Glass Account Law by improving the legal environment and revamping the Glass account portal.
In this context, the Ministry of Finance has started the redevelopment of the Glass Account Portal to help citizens understand fiscal and financial information by presenting the data in a user-friendly format, and preparations are underway to start the testing of the system.
The main advantages of the system redevelopment are integrating internal and external financial systems into the Glass account portal and publishing information in open data standards that allow users to search, download and reuse the information.
Currently, the integration and development process of the following systems are under implementation:
Treasury E-statement system: Approved budget and its execution, information on revenue and expenditure transactions;
Local Development Fund system: LDF plan and implementation;
Electronic Public Procurement System: General information on procurement plans for goods, works, and services;
Unified Tax Management System: General registration information of the public organizations;
Rights Registration System: Account information of the organizations;
By interconnecting the systems, allowing direct access to information, it will be possible to automate more than 60 percent of the information, which will ease the workload of public sector employees.
The introduction of the system reform will have a positive effect on eliminating duplicate reporting /saving time and reducing manual entry/ and increasing the data quality. On the other hand, by improving the current features of the website, citizens will have access to valuable financial data and monitor and analyze the information.
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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. |
