Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report

World Bank

dc.creator	World Bank
dc.date	2012-03-19T17:22:15Z
dc.date	2012-03-19T17:22:15Z
dc.date	2009-01-02
dc.date.accessioned	2023-02-17T20:45:37Z
dc.date.available	2023-02-17T20:45:37Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20090208230004
dc.identifier	http://hdl.handle.net/10986/3017
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243361
dc.description	Mongolia's external economic outlook is dramatically changing as it faces sharp reductions in the copper price, caused by the financial crisis and global downturn. This compels the government now to drastically cut spending to prudently manage the budget. The budget is extremely dependent on mining revenues. Government is taking the right step in proposing a balanced budget for 2009. But further adjustments will be needed given the continuing fall in copper prices. A prudent fiscal stance will also be needed to manage inflation, which accelerated in the past year to over 30 percent. The current situation highlights the need to manage mining revenues better than in recent years. Mongolia saved little during the boom years, but instead dramatically increased expenditures on wages and salaries, and poorly-targeted social transfers. Adopting a multi-year fiscal framework-which enforces saving during the boom years, sets limits to expenditure growth and debt, and ensures transparency to the public-can help. Since much of the past windfall revenues have been spent, the country enters the down-turn with little savings and high inflation, forcing it to cut expenditures with every drop in the copper price. To avoid such situations in the future, the government has the opportunity to adopt a transparent, multi-year budget framework for expenditures and investment. This includes adopting a new fiscal responsibility law. It will ensure that the government saves during the 'boom' years, so that it can continue to spend during the 'bust' years. It will also set limits to expenditure growth and public debt. Within the limits set by this framework, parliament can then exercise its constitutional rights to amend the budget.
dc.language	English
dc.publisher	World Bank
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCESS TO INFORMATION
dc.subject	ACCOUNTABILITY
dc.subject	ACCOUNTABILITY MECHANISMS
dc.subject	ACCRUAL ACCOUNTING
dc.subject	ADVERSE CONSEQUENCES
dc.subject	AGGREGATE DEMAND
dc.subject	ALLOCATION
dc.subject	ANNUAL BUDGET
dc.subject	AUDIT OFFICE
dc.subject	AUTOMATIC STABILIZERS
dc.subject	BENEFICIARIES
dc.subject	BUDGET BALANCE
dc.subject	BUDGET CYCLE
dc.subject	BUDGET DEFICIT
dc.subject	BUDGET DEFICITS
dc.subject	BUDGET DOCUMENTS
dc.subject	BUDGET ENTITY
dc.subject	BUDGET FRAMEWORK
dc.subject	BUDGET INFORMATION
dc.subject	BUDGET MANAGEMENT
dc.subject	BUDGET PLANNING
dc.subject	BUDGET PREPARATION
dc.subject	BUDGET SITUATION
dc.subject	BUDGET SURPLUSES
dc.subject	BUDGET SYSTEM
dc.subject	BUDGETARY ALLOCATIONS
dc.subject	BUSINESS PLANS
dc.subject	CAPACITY CONSTRAINTS
dc.subject	CAPITAL EXPENDITURES
dc.subject	CAPITAL INVESTMENT
dc.subject	CAPITAL INVESTMENTS
dc.subject	CAPITAL PROJECTS
dc.subject	CAPITAL SPENDING
dc.subject	CENTRAL BANK
dc.subject	CENTRAL GOVERNMENT
dc.subject	CHART OF ACCOUNTS
dc.subject	CIVIL SERVICE
dc.subject	CIVIL SERVICE REFORM
dc.subject	CIVIL SOCIETY ORGANIZATIONS
dc.subject	COMMODITY PRICES
dc.subject	COMPETITIVE BIDS
dc.subject	CONSUMPTION SMOOTHING
dc.subject	COST-EFFICIENCY
dc.subject	CUT SPENDING
dc.subject	CYCLICAL FACTORS
dc.subject	DEBT
dc.subject	DEBT BURDEN
dc.subject	DEBT MANAGEMENT
dc.subject	DEBT MANAGEMENT SYSTEM
dc.subject	DEBT SUSTAINABILITY
dc.subject	DISCRETIONARY ACTION
dc.subject	DONOR ASSISTANCE
dc.subject	DONOR COORDINATION
dc.subject	DONOR FINANCING
dc.subject	DONOR FUNDING
dc.subject	ECONOMIC FLUCTUATIONS
dc.subject	ECONOMIC GROWTH
dc.subject	EDUCATION EXPENDITURES
dc.subject	EDUCATION SERVICES
dc.subject	EFFICIENCY GAINS
dc.subject	EVALUATION CAPACITY
dc.subject	EXCHANGE RATE
dc.subject	EXOGENOUS SHOCKS
dc.subject	EXPENDITURE ASSIGNMENTS
dc.subject	EXPENDITURE GROWTH
dc.subject	EXPENDITURE MANAGEMENT
dc.subject	EXPENDITURES
dc.subject	EXTERNAL AUDIT
dc.subject	FINANCIAL AUDITS
dc.subject	FINANCIAL BURDEN
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL MANAGEMENT
dc.subject	FINANCIAL MANAGEMENT INFORMATION
dc.subject	FINANCIAL MANAGEMENT INFORMATION SYSTEM
dc.subject	FINANCIAL MANAGEMENT SYSTEM
dc.subject	FINANCIAL MANAGEMENT SYSTEMS
dc.subject	FISCAL AFFAIRS
dc.subject	FISCAL BALANCE
dc.subject	FISCAL CONSOLIDATION
dc.subject	FISCAL DECISIONS
dc.subject	FISCAL DEFICIT
dc.subject	FISCAL DEFICIT TARGET
dc.subject	FISCAL DISCIPLINE
dc.subject	FISCAL POLICY
dc.subject	FISCAL POSITION
dc.subject	FISCAL REVENUE
dc.subject	FISCAL RULES
dc.subject	FISCAL STANCE
dc.subject	FISCAL SUSTAINABILITY
dc.subject	GOVERNMENT BUDGET
dc.subject	GOVERNMENT DEBT
dc.subject	GOVERNMENT EXPENDITURE
dc.subject	GOVERNMENT EXPENDITURES
dc.subject	GOVERNMENT POLICY
dc.subject	GOVERNMENT PRIORITIES
dc.subject	GOVERNMENT REVENUES
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	HEALTH CARE
dc.subject	HEALTH EXPENDITURE
dc.subject	HEALTH EXPENDITURES
dc.subject	HEALTH FINANCING
dc.subject	HEALTH INSURANCE
dc.subject	HEALTH INSURANCE FUND
dc.subject	HEALTH MINISTRY
dc.subject	HEALTH OUTCOMES
dc.subject	HEALTH SECTOR
dc.subject	HEALTH SERVICES
dc.subject	HEALTH SPENDING
dc.subject	INFLATION
dc.subject	INFORMATION ASYMMETRY
dc.subject	INFRASTRUCTURE SERVICES
dc.subject	INTERNAL AUDIT
dc.subject	INTERNAL CONTROLS
dc.subject	MACROECONOMIC CONDITIONS
dc.subject	MACROECONOMIC STABILITY
dc.subject	MANAGEMENT CONTROLS
dc.subject	MARKET ECONOMY
dc.subject	MARKET FAILURES
dc.subject	MASTER PLAN
dc.subject	MEDIUM-TERM EXPENDITURE
dc.subject	MEDIUM-TERM EXPENDITURE FRAMEWORK
dc.subject	MEDIUM-TERM FISCAL FRAMEWORK
dc.subject	NATIONAL AUDIT
dc.subject	NATIONAL STATISTICS
dc.subject	NATIONAL STATISTICS OFFICE
dc.subject	OUTPUT RATIO
dc.subject	PERFORMANCE CONTRACTING
dc.subject	PERFORMANCE CONTRACTS
dc.subject	PERFORMANCE MANAGEMENT
dc.subject	PERFORMANCE MANAGEMENT FRAMEWORK
dc.subject	POVERTY REDUCTION
dc.subject	PRICE INDEX
dc.subject	PRIVATE PENSION
dc.subject	PRIVATE SECTOR
dc.subject	PRIVATE SECTOR GROWTH
dc.subject	PROCUREMENT POLICY
dc.subject	PROGRAMS
dc.subject	PUBLIC BUDGET
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC DEFICIT
dc.subject	PUBLIC DEFICITS
dc.subject	PUBLIC EDUCATION
dc.subject	PUBLIC EXPENDITURE
dc.subject	PUBLIC EXPENDITURE POLICY
dc.subject	PUBLIC EXPENDITURE TRACKING
dc.subject	PUBLIC EXPENDITURES
dc.subject	PUBLIC FINANCE
dc.subject	PUBLIC FINANCES
dc.subject	PUBLIC FINANCIAL MANAGEMENT
dc.subject	PUBLIC FINANCIAL MANAGEMENT SYSTEMS
dc.subject	PUBLIC GOODS
dc.subject	PUBLIC HEALTH
dc.subject	PUBLIC HEALTH INTERVENTIONS
dc.subject	PUBLIC INFRASTRUCTURE
dc.subject	PUBLIC INVESTMENT
dc.subject	PUBLIC INVESTMENT PROGRAM
dc.subject	PUBLIC INVESTMENTS
dc.subject	PUBLIC PROCUREMENT
dc.subject	PUBLIC RESOURCES
dc.subject	PUBLIC REVENUE
dc.subject	PUBLIC REVENUES
dc.subject	PUBLIC SECTOR
dc.subject	PUBLIC SECTOR MANAGEMENT
dc.subject	PUBLIC SERVICE
dc.subject	PUBLIC SERVICE DELIVERY
dc.subject	PUBLIC SERVICES
dc.subject	PUBLIC SPENDING
dc.subject	RECURRENT EXPENDITURES
dc.subject	RESOURCE ALLOCATION
dc.subject	RESOURCE MANAGEMENT
dc.subject	REVENUE LEVELS
dc.subject	REVENUE SOURCES
dc.subject	SCHOOL MANAGEMENT
dc.subject	SERVICE DELIVERY
dc.subject	SOCIAL ASSISTANCE
dc.subject	SOCIAL INSURANCE
dc.subject	SOCIAL PROTECTION
dc.subject	SOCIAL SECURITY
dc.subject	SOCIAL SECURITY SYSTEM
dc.subject	SOCIAL TRANSFER
dc.subject	SOCIAL WELFARE
dc.subject	STRENGTHENING BUDGET EXECUTION
dc.subject	SUPREME AUDIT INSTITUTIONS
dc.subject	SUSTAINABILITY ANALYSIS
dc.subject	TAX ADMINISTRATION
dc.subject	TAX COLLECTION
dc.subject	TAX POLICY
dc.subject	TOTAL EXPENDITURES
dc.subject	TOTAL PUBLIC SPENDING
dc.subject	TRANSPARENCY
dc.subject	TREASURY MANAGEMENT
dc.subject	TREASURY SYSTEM
dc.subject	UNCERTAINTY
dc.title	Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report
dc.type	Economic & Sector Work :: Integrated Fiduciary Assessment
dc.coverage	East Asia and Pacific
dc.coverage	East Asia
dc.coverage	Asia
dc.coverage	Mongolia