6/29/2022

Under the SFFS project, a project jointly implemented by the Ministry of Finance of Mongolia and the World Bank, the Treasury Department is introducing a commitment control as part of the integrated treasury system to improve the completeness and transparency of the budget. Accounting for financial commitments (hereinafter referred to as commitment control) is the process of reserving funds from the approved budget, recording the reserve, and financing expenditures from allocated funds, which consists of two stages “commitment” and “obligation”. Within the framework of implementing commitment control, the project team has completed the following which includes:

6/24/2022

The meetings of the EAG Working Groups and the 36th Plenary Meeting of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) were held in Tashkent (Republic of Uzbekistan) from May 30 to June 2, 2022.

6/15/2022

The Deposit Insurance Corporation of Mongolia is a non-profit legal entity which was established under “The Bank Deposit Insurance Law,” and one of its main functions is to provide compensation to insured depositors. With support from the Strengthening Fiscal and Financial Stability project, jointly funded by the World Bank and the Ministry of Finance, the development of the compensation system is in its preparatory stages. With the implementation of the system, it will become possible to access depositor information and make calculations based on the information. Also, it will be possible for the reimbursing bank to connect to the system and make compensations, exchange reports and information, and file complaints.

6/8/2022

Note: This picture depicts the main visualization and analytics view of the Government’s 10 trillion MNT Comprehensive Plan aimed at economic recovery and health protection 

5/25/2022

With the support of the European Union and the World Bank, the Ministry of Finance of Mongolia, in cooperation with Unread Media, is launching the “Budget Your Future” campaign. The purpose of this campaign is to support the Government's effort to strengthen fiscal transparency and accountability in Mongolia. The campaign will provide the public with a variety of content and events, a simple understanding of the budget as well as information on how to participate during the budget cycle - budget proposal, approval, and execution.

5/18/2022

Within the framework of the “Strengthening Fiscal and Financial Stability  Project” implemented in cooperation with the World Bank, the Ministry of Labor and Social Protection (MLSP) provided technical assistance to improve the methodology for defining poor households.

5/11/2022

Within the framework of the "Strengthening Fiscal and Financial Stability Project," jointly implemented by the Ministry of Finance of Mongolia and the World Bank, one of the key objectives is to enhance the stability of the financial sector of Mongolia.

5/9/2022

As part of the implementation of Parliament Resolution No. 106 of 2021, the “New Revival Policy” was adopted to accelerate economic recovery amid the pandemic. In addition, an amendment to the Public Procurement Law of Mongolia has been drafted with the support of the “Strengthening Fiscal and Financial Stability Project.”