B.Byamba-Erdene, Specialist of Fiscal policy planning department, Fiscal revenue division, N.Erdene, Consultant of Fiscal policy planning department, Fiscal revenue division

We are pleased to participate in a 9-month online course, “Financial Reporting Specialization”, as part of the Strengthening Fiscal and Financial Stability. Fortunately, in recent years, using the rapidly evolving online platform, we have been able to learn a set of four lessons to our own time.

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U.Bolortuya, 11th grade student of laboratory 1st school, Gobi-altai province

I am pleased to have successfully participated in the “If I Were the Minister of Finance” essay contest organized as part of the “BUDGET YOUR FUTURE” campaign.

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A.Gunbileg, Specialist of Debt management department, MoF

In my opinion, the Strengthening Governance Mongolia project implements the most effective measures in addressing the challenges facing Mongolia's budget. For instance, the Government of Mongolia is working to improve its oversight of contingent liabilities and on-lent loans, update relevant regulations, and update its credit database.

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E.Odontugs, Dornod Province, Governor’s Office Finance and Treasury division specialist

I think the IPS for civil servants is one of the significant reforms in the budget and financial sectors. In my opinion, as the project progresses, the system will become more sophisticated, transparent, and simplify employee work. In the past, accounting information was kept manually, but now it has an integrated system.

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U.Bujinlkham, Senior Officer, Foreign Relations and Cooperation Department, Deposit Insurance Corporation of Mongolia

I had an excellent opportunity to take an online course, “Data Science,” as part of the World Bank Project on Strengthening Fiscal and Financial Stability. In a rapidly evolving financial market environment, where new players and products emerge daily, banking and financial industry professionals need to learn and enhance their professional skills continuously.

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Ch.Bilguun, Officer, Insurance Department, FRC

Insurance and risk are interrelated concepts. Risk is the formation of a difficult circumstance that may cause damage somehow, while insurance provides the opportunity to overcome the risk without financial stress. Therefore, the regulator requires insurers to have sufficient funds and reserves to cover the risk.

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O.Uuganchimeg, Darkhan-Uul Province, Department of Education, Culture and Arts, Budget and Finance specialist

For me, it is convenient to calculate payroll online from anywhere. I am glad that relevant laws and regulations are fully implemented and there are no more unintended mistakes. Also, able to calculate our organization’s payroll faster and deliver relevant reports in a timely and accurate manner. 

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G.Amartuvshin, Senior economist, Macroprudential Policy Division, Monetary Policy Department, Bank of Mongolia

Strengthening Fiscal and Financial Stability Project provides us with a wide range of opportunities to learn from international and domestic consultants. I have participated in the project called “Developing models with the financial sector and elements of macroprudential policy” implemented by the Bank of Mongolia in cooperation with OGResearch consulting firm from the Czech Republic, and I would like to share some of the experiences and lessons learned from working on this project.

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N.Seded, Uvurkhangai Province, Education Culture and Arts department Budget Finance and Investment specialist

I am glad to have the opportunity to work as an accountant in a budget entity and as a trainer. The IPS for civil servants was introduced just a year ago, and it has now been used nationwide. But, of course, the importance and benefits of many things are felt by sector and public accountants. 

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B.Nomin, Consultant, Fiscal policy and planning department, Budget consolidation division, Ministry of Finance

Everyone acknowledges that budget information should be transparent. Then, what kind of information should be delivered to whom via which channel? Under the Strengthening Governance in Mongolia project, we are developing a mechanism for open dissemination of fiscal information to the public, citizens, and civil society organizations appropriate to our country's context. I want to emphasize three points I have learned while working on the project.

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