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

World Bank

dc.creator	World Bank
dc.date	2012-03-19T17:22:20Z
dc.date	2012-03-19T17:22:20Z
dc.date	2009-01-02
dc.date.accessioned	2023-02-17T20:45:38Z
dc.date.available	2023-02-17T20:45:38Z
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_20090208230450
dc.identifier	http://hdl.handle.net/10986/3018
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243362
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	ACCOUNTING
dc.subject	ADMINISTRATIVE COSTS
dc.subject	ANNUAL BUDGET
dc.subject	ANNUAL BUDGETING
dc.subject	ANNUAL RATE
dc.subject	APR
dc.subject	AVERAGE GROWTH
dc.subject	AVERAGE WAGE
dc.subject	AVERAGE WAGES
dc.subject	BENEFICIARIES
dc.subject	BENEFICIARY
dc.subject	BENEFIT FORMULA
dc.subject	BUDGET CIRCULAR
dc.subject	BUDGET ENTITY
dc.subject	BUDGET EXPENDITURE
dc.subject	BUDGET FRAMEWORK
dc.subject	BUDGET IMPLEMENTATION
dc.subject	BUDGET LAW
dc.subject	BUDGET MANAGERS
dc.subject	BUDGET PLANNING
dc.subject	BUDGET PREPARATION
dc.subject	BUDGET PROJECTIONS
dc.subject	BUDGET STATEMENTS
dc.subject	BUDGETARY CONTROL
dc.subject	BUDGETING
dc.subject	BUSINESS PLAN
dc.subject	BUYER
dc.subject	CALCULATIONS
dc.subject	CASH TRANSFERS
dc.subject	CC
dc.subject	CENTRAL GOVERNMENT
dc.subject	CHART OF ACCOUNTS
dc.subject	CIVIL SERVANT
dc.subject	CIVIL SERVANTS
dc.subject	CIVIL SERVICE
dc.subject	CIVIL SERVICE LAW
dc.subject	CIVIL SERVICE REFORM
dc.subject	CIVIL SERVICE SYSTEM
dc.subject	COLLEGE STUDENTS
dc.subject	CONTRIBUTION
dc.subject	CONTRIBUTION RATE
dc.subject	CONTRIBUTIONS
dc.subject	CREDIT RATING
dc.subject	CREDIT RATING AGENCY
dc.subject	CS
dc.subject	DAILY PAYMENT
dc.subject	DISABILITY
dc.subject	DISABILITY BENEFIT
dc.subject	DISABILITY PENSION
dc.subject	DISABLED
dc.subject	DISABLED PERSONS
dc.subject	DISADVANTAGED STUDENTS
dc.subject	DISASTER RECOVERY
dc.subject	DISCRETION
dc.subject	EARLY RETIREMENT
dc.subject	ECONOMIC AGENTS
dc.subject	ECONOMIC CLASSIFICATION
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC MANAGEMENT
dc.subject	ELECTRONIC FUND
dc.subject	ELIGIBILITY CRITERIA
dc.subject	EMPLOYEE
dc.subject	EMPLOYER
dc.subject	EQUIPMENT
dc.subject	EXCHANGE RATE
dc.subject	EXPENDITURE CONTROL
dc.subject	FAMILIES
dc.subject	FARMER
dc.subject	FINANCIAL ACCOUNTABILITY
dc.subject	FINANCIAL AID
dc.subject	FINANCIAL DATA
dc.subject	FINANCIAL MANAGEMENT
dc.subject	FINANCIAL MANAGEMENT INFORMATION
dc.subject	FINANCIAL MANAGEMENT INFORMATION SYSTEM
dc.subject	FINANCIAL POLICY
dc.subject	FINANCIAL STATEMENTS
dc.subject	GENERAL PUBLIC
dc.subject	GOVERNMENT POLICY
dc.subject	HOLDING
dc.subject	HOSPITAL SERVICES
dc.subject	HUMAN RESOURCE
dc.subject	HUMAN RESOURCE REQUIREMENTS
dc.subject	HUMAN RESOURCES
dc.subject	INCOME
dc.subject	INDIVIDUAL ACCOUNT
dc.subject	INDIVIDUAL PENSION
dc.subject	INFLATION
dc.subject	INFLATION RATE
dc.subject	INFORMATION SYSTEM
dc.subject	INITIATIVE
dc.subject	INSURANCE
dc.subject	INSURANCE PENSIONS
dc.subject	INTEGRITY
dc.subject	INTERNAL CONTROL
dc.subject	INTERNAL CONTROLS
dc.subject	LAW ENFORCEMENT
dc.subject	LAWS
dc.subject	LEADERSHIP
dc.subject	LOAN
dc.subject	LOAN AMOUNT
dc.subject	LOAN PROGRAMS
dc.subject	LOCAL GOVERNMENT
dc.subject	LOCAL GOVERNMENTS
dc.subject	LONG-TERM INVESTMENT
dc.subject	LOW-INCOME
dc.subject	MARKET ECONOMY
dc.subject	MARKET FAILURE
dc.subject	MARKET INFORMATION
dc.subject	MARKET PLACE
dc.subject	MINIMUM PENSION
dc.subject	MINIMUM WAGE
dc.subject	MINISTER
dc.subject	MINISTRY CEILINGS
dc.subject	MINISTRY OF FINANCE
dc.subject	MONETARY POLICY
dc.subject	NEEDY STUDENTS
dc.subject	NEGATIVE EXTERNALITIES
dc.subject	PENSION
dc.subject	PENSION AGE
dc.subject	PENSIONS
dc.subject	PERFORMANCE ASSESSMENTS
dc.subject	PERFORMANCE DATA
dc.subject	PERFORMANCE MANAGEMENT
dc.subject	PERSONAL COMPUTER
dc.subject	PORTFOLIO
dc.subject	POSITIVE EXTERNALITIES
dc.subject	POVERTY REDUCTION
dc.subject	PRIVATE CREDIT
dc.subject	PRIVATE CREDIT RATING
dc.subject	PRIVATE GOODS
dc.subject	PRIVATE SECTOR
dc.subject	PROCUREMENT LAW
dc.subject	PROSECUTION
dc.subject	PUBLIC ADMINISTRATION
dc.subject	PUBLIC EMPLOYEES
dc.subject	PUBLIC EXPENDITURE
dc.subject	PUBLIC EXPENDITURES
dc.subject	PUBLIC GOODS
dc.subject	PUBLIC PROCUREMENT
dc.subject	PUBLIC SECTOR
dc.subject	PUBLIC SERVICES
dc.subject	RECEIPT
dc.subject	REFORM STRATEGY
dc.subject	RESPONSIBILITIES
dc.subject	RETIRED
dc.subject	RETIREMENT
dc.subject	RETIREMENT AGE
dc.subject	RETIREMENT PENSION
dc.subject	RETURNS
dc.subject	SALARIES
dc.subject	SALARY
dc.subject	SALE
dc.subject	SECONDARY EDUCATION
dc.subject	SECONDARY SCHOOL
dc.subject	SECONDARY SCHOOLS
dc.subject	SENIOR
dc.subject	SERVICE DELIVERY
dc.subject	SERVICE EMPLOYMENT
dc.subject	SINGLE MOTHERS
dc.subject	SINGLE PARENT
dc.subject	SOCIAL ASSISTANCE
dc.subject	SOCIAL INSURANCE
dc.subject	SOCIAL INSURANCE FUND
dc.subject	SOCIAL PROTECTION
dc.subject	SOCIAL WELFARE
dc.subject	SOFT LOAN
dc.subject	STATE BUDGET
dc.subject	STATED OBJECTIVE
dc.subject	TAX
dc.subject	TAX EXEMPT
dc.subject	TECHNICAL EDUCATION
dc.subject	TOTAL COST
dc.subject	TOTAL EXPENDITURE
dc.subject	TOTAL EXPENDITURES
dc.subject	TRADING
dc.subject	TRANSACTION
dc.subject	TRANSACTION COST
dc.subject	TRANSACTION COSTS
dc.subject	TRANSPARENCY
dc.subject	TREASURY
dc.subject	TURNOVER
dc.subject	UNCERTAINTY
dc.subject	UNIVERSITY TUITION
dc.subject	WAGES
dc.subject	WARRANTS
dc.subject	YEARS OF SERVICE
dc.title	Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Annexes
dc.type	Economic & Sector Work :: Integrated Fiduciary Assessment
dc.coverage	East Asia and Pacific
dc.coverage	East Asia
dc.coverage	Asia
dc.coverage	Mongolia