Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report
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.
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dig-okr-109863017 |
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record_format |
koha |
institution |
Banco Mundial |
collection |
DSpace |
country |
Estados Unidos |
countrycode |
US |
component |
Bibliográfico |
access |
En linea |
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dig-okr |
tag |
biblioteca |
region |
America del Norte |
libraryname |
Biblioteca del Banco Mundial |
language |
English |
topic |
ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTABILITY MECHANISMS ACCRUAL ACCOUNTING ADVERSE CONSEQUENCES AGGREGATE DEMAND ALLOCATION ANNUAL BUDGET AUDIT OFFICE AUTOMATIC STABILIZERS BENEFICIARIES BUDGET BALANCE BUDGET CYCLE BUDGET DEFICIT BUDGET DEFICITS BUDGET DOCUMENTS BUDGET ENTITY BUDGET FRAMEWORK BUDGET INFORMATION BUDGET MANAGEMENT BUDGET PLANNING BUDGET PREPARATION BUDGET SITUATION BUDGET SURPLUSES BUDGET SYSTEM BUDGETARY ALLOCATIONS BUSINESS PLANS CAPACITY CONSTRAINTS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL PROJECTS CAPITAL SPENDING CENTRAL BANK CENTRAL GOVERNMENT CHART OF ACCOUNTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMMODITY PRICES COMPETITIVE BIDS CONSUMPTION SMOOTHING COST-EFFICIENCY CUT SPENDING CYCLICAL FACTORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT MANAGEMENT SYSTEM DEBT SUSTAINABILITY DISCRETIONARY ACTION DONOR ASSISTANCE DONOR COORDINATION DONOR FINANCING DONOR FUNDING ECONOMIC FLUCTUATIONS ECONOMIC GROWTH EDUCATION EXPENDITURES EDUCATION SERVICES EFFICIENCY GAINS EVALUATION CAPACITY EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURE ASSIGNMENTS EXPENDITURE GROWTH EXPENDITURE MANAGEMENT EXPENDITURES EXTERNAL AUDIT FINANCIAL AUDITS FINANCIAL BURDEN FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL AFFAIRS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL DECISIONS FISCAL DEFICIT FISCAL DEFICIT TARGET FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FISCAL REVENUE FISCAL RULES FISCAL STANCE FISCAL SUSTAINABILITY GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT POLICY GOVERNMENT PRIORITIES GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH EXPENDITURE HEALTH EXPENDITURES HEALTH FINANCING HEALTH INSURANCE HEALTH INSURANCE FUND HEALTH MINISTRY HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING INFLATION INFORMATION ASYMMETRY INFRASTRUCTURE SERVICES INTERNAL AUDIT INTERNAL CONTROLS MACROECONOMIC CONDITIONS MACROECONOMIC STABILITY MANAGEMENT CONTROLS MARKET ECONOMY MARKET FAILURES MASTER PLAN MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MEDIUM-TERM FISCAL FRAMEWORK NATIONAL AUDIT NATIONAL STATISTICS NATIONAL STATISTICS OFFICE OUTPUT RATIO PERFORMANCE CONTRACTING PERFORMANCE CONTRACTS PERFORMANCE MANAGEMENT PERFORMANCE MANAGEMENT FRAMEWORK POVERTY REDUCTION PRICE INDEX PRIVATE PENSION PRIVATE SECTOR PRIVATE SECTOR GROWTH PROCUREMENT POLICY PROGRAMS PUBLIC BUDGET PUBLIC DEBT PUBLIC DEFICIT PUBLIC DEFICITS PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE POLICY PUBLIC EXPENDITURE TRACKING PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC GOODS PUBLIC HEALTH PUBLIC HEALTH INTERVENTIONS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC REVENUE PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING RECURRENT EXPENDITURES RESOURCE ALLOCATION RESOURCE MANAGEMENT REVENUE LEVELS REVENUE SOURCES SCHOOL MANAGEMENT SERVICE DELIVERY SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY SYSTEM SOCIAL TRANSFER SOCIAL WELFARE STRENGTHENING BUDGET EXECUTION SUPREME AUDIT INSTITUTIONS SUSTAINABILITY ANALYSIS TAX ADMINISTRATION TAX COLLECTION TAX POLICY TOTAL EXPENDITURES TOTAL PUBLIC SPENDING TRANSPARENCY TREASURY MANAGEMENT TREASURY SYSTEM UNCERTAINTY ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTABILITY MECHANISMS ACCRUAL ACCOUNTING ADVERSE CONSEQUENCES AGGREGATE DEMAND ALLOCATION ANNUAL BUDGET AUDIT OFFICE AUTOMATIC STABILIZERS BENEFICIARIES BUDGET BALANCE BUDGET CYCLE BUDGET DEFICIT BUDGET DEFICITS BUDGET DOCUMENTS BUDGET ENTITY BUDGET FRAMEWORK BUDGET INFORMATION BUDGET MANAGEMENT BUDGET PLANNING BUDGET PREPARATION BUDGET SITUATION BUDGET SURPLUSES BUDGET SYSTEM BUDGETARY ALLOCATIONS BUSINESS PLANS CAPACITY CONSTRAINTS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL PROJECTS CAPITAL SPENDING CENTRAL BANK CENTRAL GOVERNMENT CHART OF ACCOUNTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMMODITY PRICES COMPETITIVE BIDS CONSUMPTION SMOOTHING COST-EFFICIENCY CUT SPENDING CYCLICAL FACTORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT MANAGEMENT SYSTEM DEBT SUSTAINABILITY DISCRETIONARY ACTION DONOR ASSISTANCE DONOR COORDINATION DONOR FINANCING DONOR FUNDING ECONOMIC FLUCTUATIONS ECONOMIC GROWTH EDUCATION EXPENDITURES EDUCATION SERVICES EFFICIENCY GAINS EVALUATION CAPACITY EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURE ASSIGNMENTS EXPENDITURE GROWTH EXPENDITURE MANAGEMENT EXPENDITURES EXTERNAL AUDIT FINANCIAL AUDITS FINANCIAL BURDEN FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL AFFAIRS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL DECISIONS FISCAL DEFICIT FISCAL DEFICIT TARGET FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FISCAL REVENUE FISCAL RULES FISCAL STANCE FISCAL SUSTAINABILITY GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT POLICY GOVERNMENT PRIORITIES GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH EXPENDITURE HEALTH EXPENDITURES HEALTH FINANCING HEALTH INSURANCE HEALTH INSURANCE FUND HEALTH MINISTRY HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING INFLATION INFORMATION ASYMMETRY INFRASTRUCTURE SERVICES INTERNAL AUDIT INTERNAL CONTROLS MACROECONOMIC CONDITIONS MACROECONOMIC STABILITY MANAGEMENT CONTROLS MARKET ECONOMY MARKET FAILURES MASTER PLAN MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MEDIUM-TERM FISCAL FRAMEWORK NATIONAL AUDIT NATIONAL STATISTICS NATIONAL STATISTICS OFFICE OUTPUT RATIO PERFORMANCE CONTRACTING PERFORMANCE CONTRACTS PERFORMANCE MANAGEMENT PERFORMANCE MANAGEMENT FRAMEWORK POVERTY REDUCTION PRICE INDEX PRIVATE PENSION PRIVATE SECTOR PRIVATE SECTOR GROWTH PROCUREMENT POLICY PROGRAMS PUBLIC BUDGET PUBLIC DEBT PUBLIC DEFICIT PUBLIC DEFICITS PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE POLICY PUBLIC EXPENDITURE TRACKING PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC GOODS PUBLIC HEALTH PUBLIC HEALTH INTERVENTIONS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC REVENUE PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING RECURRENT EXPENDITURES RESOURCE ALLOCATION RESOURCE MANAGEMENT REVENUE LEVELS REVENUE SOURCES SCHOOL MANAGEMENT SERVICE DELIVERY SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY SYSTEM SOCIAL TRANSFER SOCIAL WELFARE STRENGTHENING BUDGET EXECUTION SUPREME AUDIT INSTITUTIONS SUSTAINABILITY ANALYSIS TAX ADMINISTRATION TAX COLLECTION TAX POLICY TOTAL EXPENDITURES TOTAL PUBLIC SPENDING TRANSPARENCY TREASURY MANAGEMENT TREASURY SYSTEM UNCERTAINTY |
spellingShingle |
ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTABILITY MECHANISMS ACCRUAL ACCOUNTING ADVERSE CONSEQUENCES AGGREGATE DEMAND ALLOCATION ANNUAL BUDGET AUDIT OFFICE AUTOMATIC STABILIZERS BENEFICIARIES BUDGET BALANCE BUDGET CYCLE BUDGET DEFICIT BUDGET DEFICITS BUDGET DOCUMENTS BUDGET ENTITY BUDGET FRAMEWORK BUDGET INFORMATION BUDGET MANAGEMENT BUDGET PLANNING BUDGET PREPARATION BUDGET SITUATION BUDGET SURPLUSES BUDGET SYSTEM BUDGETARY ALLOCATIONS BUSINESS PLANS CAPACITY CONSTRAINTS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL PROJECTS CAPITAL SPENDING CENTRAL BANK CENTRAL GOVERNMENT CHART OF ACCOUNTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMMODITY PRICES COMPETITIVE BIDS CONSUMPTION SMOOTHING COST-EFFICIENCY CUT SPENDING CYCLICAL FACTORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT MANAGEMENT SYSTEM DEBT SUSTAINABILITY DISCRETIONARY ACTION DONOR ASSISTANCE DONOR COORDINATION DONOR FINANCING DONOR FUNDING ECONOMIC FLUCTUATIONS ECONOMIC GROWTH EDUCATION EXPENDITURES EDUCATION SERVICES EFFICIENCY GAINS EVALUATION CAPACITY EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURE ASSIGNMENTS EXPENDITURE GROWTH EXPENDITURE MANAGEMENT EXPENDITURES EXTERNAL AUDIT FINANCIAL AUDITS FINANCIAL BURDEN FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL AFFAIRS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL DECISIONS FISCAL DEFICIT FISCAL DEFICIT TARGET FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FISCAL REVENUE FISCAL RULES FISCAL STANCE FISCAL SUSTAINABILITY GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT POLICY GOVERNMENT PRIORITIES GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH EXPENDITURE HEALTH EXPENDITURES HEALTH FINANCING HEALTH INSURANCE HEALTH INSURANCE FUND HEALTH MINISTRY HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING INFLATION INFORMATION ASYMMETRY INFRASTRUCTURE SERVICES INTERNAL AUDIT INTERNAL CONTROLS MACROECONOMIC CONDITIONS MACROECONOMIC STABILITY MANAGEMENT CONTROLS MARKET ECONOMY MARKET FAILURES MASTER PLAN MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MEDIUM-TERM FISCAL FRAMEWORK NATIONAL AUDIT NATIONAL STATISTICS NATIONAL STATISTICS OFFICE OUTPUT RATIO PERFORMANCE CONTRACTING PERFORMANCE CONTRACTS PERFORMANCE MANAGEMENT PERFORMANCE MANAGEMENT FRAMEWORK POVERTY REDUCTION PRICE INDEX PRIVATE PENSION PRIVATE SECTOR PRIVATE SECTOR GROWTH PROCUREMENT POLICY PROGRAMS PUBLIC BUDGET PUBLIC DEBT PUBLIC DEFICIT PUBLIC DEFICITS PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE POLICY PUBLIC EXPENDITURE TRACKING PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC GOODS PUBLIC HEALTH PUBLIC HEALTH INTERVENTIONS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC REVENUE PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING RECURRENT EXPENDITURES RESOURCE ALLOCATION RESOURCE MANAGEMENT REVENUE LEVELS REVENUE SOURCES SCHOOL MANAGEMENT SERVICE DELIVERY SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY SYSTEM SOCIAL TRANSFER SOCIAL WELFARE STRENGTHENING BUDGET EXECUTION SUPREME AUDIT INSTITUTIONS SUSTAINABILITY ANALYSIS TAX ADMINISTRATION TAX COLLECTION TAX POLICY TOTAL EXPENDITURES TOTAL PUBLIC SPENDING TRANSPARENCY TREASURY MANAGEMENT TREASURY SYSTEM UNCERTAINTY ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTABILITY MECHANISMS ACCRUAL ACCOUNTING ADVERSE CONSEQUENCES AGGREGATE DEMAND ALLOCATION ANNUAL BUDGET AUDIT OFFICE AUTOMATIC STABILIZERS BENEFICIARIES BUDGET BALANCE BUDGET CYCLE BUDGET DEFICIT BUDGET DEFICITS BUDGET DOCUMENTS BUDGET ENTITY BUDGET FRAMEWORK BUDGET INFORMATION BUDGET MANAGEMENT BUDGET PLANNING BUDGET PREPARATION BUDGET SITUATION BUDGET SURPLUSES BUDGET SYSTEM BUDGETARY ALLOCATIONS BUSINESS PLANS CAPACITY CONSTRAINTS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL PROJECTS CAPITAL SPENDING CENTRAL BANK CENTRAL GOVERNMENT CHART OF ACCOUNTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMMODITY PRICES COMPETITIVE BIDS CONSUMPTION SMOOTHING COST-EFFICIENCY CUT SPENDING CYCLICAL FACTORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT MANAGEMENT SYSTEM DEBT SUSTAINABILITY DISCRETIONARY ACTION DONOR ASSISTANCE DONOR COORDINATION DONOR FINANCING DONOR FUNDING ECONOMIC FLUCTUATIONS ECONOMIC GROWTH EDUCATION EXPENDITURES EDUCATION SERVICES EFFICIENCY GAINS EVALUATION CAPACITY EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURE ASSIGNMENTS EXPENDITURE GROWTH EXPENDITURE MANAGEMENT EXPENDITURES EXTERNAL AUDIT FINANCIAL AUDITS FINANCIAL BURDEN FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL AFFAIRS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL DECISIONS FISCAL DEFICIT FISCAL DEFICIT TARGET FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FISCAL REVENUE FISCAL RULES FISCAL STANCE FISCAL SUSTAINABILITY GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT POLICY GOVERNMENT PRIORITIES GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH EXPENDITURE HEALTH EXPENDITURES HEALTH FINANCING HEALTH INSURANCE HEALTH INSURANCE FUND HEALTH MINISTRY HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING INFLATION INFORMATION ASYMMETRY INFRASTRUCTURE SERVICES INTERNAL AUDIT INTERNAL CONTROLS MACROECONOMIC CONDITIONS MACROECONOMIC STABILITY MANAGEMENT CONTROLS MARKET ECONOMY MARKET FAILURES MASTER PLAN MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MEDIUM-TERM FISCAL FRAMEWORK NATIONAL AUDIT NATIONAL STATISTICS NATIONAL STATISTICS OFFICE OUTPUT RATIO PERFORMANCE CONTRACTING PERFORMANCE CONTRACTS PERFORMANCE MANAGEMENT PERFORMANCE MANAGEMENT FRAMEWORK POVERTY REDUCTION PRICE INDEX PRIVATE PENSION PRIVATE SECTOR PRIVATE SECTOR GROWTH PROCUREMENT POLICY PROGRAMS PUBLIC BUDGET PUBLIC DEBT PUBLIC DEFICIT PUBLIC DEFICITS PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE POLICY PUBLIC EXPENDITURE TRACKING PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC GOODS PUBLIC HEALTH PUBLIC HEALTH INTERVENTIONS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC REVENUE PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING RECURRENT EXPENDITURES RESOURCE ALLOCATION RESOURCE MANAGEMENT REVENUE LEVELS REVENUE SOURCES SCHOOL MANAGEMENT SERVICE DELIVERY SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY SYSTEM SOCIAL TRANSFER SOCIAL WELFARE STRENGTHENING BUDGET EXECUTION SUPREME AUDIT INSTITUTIONS SUSTAINABILITY ANALYSIS TAX ADMINISTRATION TAX COLLECTION TAX POLICY TOTAL EXPENDITURES TOTAL PUBLIC SPENDING TRANSPARENCY TREASURY MANAGEMENT TREASURY SYSTEM UNCERTAINTY World Bank Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report |
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. |
format |
Economic & Sector Work :: Integrated Fiduciary Assessment |
topic_facet |
ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTABILITY MECHANISMS ACCRUAL ACCOUNTING ADVERSE CONSEQUENCES AGGREGATE DEMAND ALLOCATION ANNUAL BUDGET AUDIT OFFICE AUTOMATIC STABILIZERS BENEFICIARIES BUDGET BALANCE BUDGET CYCLE BUDGET DEFICIT BUDGET DEFICITS BUDGET DOCUMENTS BUDGET ENTITY BUDGET FRAMEWORK BUDGET INFORMATION BUDGET MANAGEMENT BUDGET PLANNING BUDGET PREPARATION BUDGET SITUATION BUDGET SURPLUSES BUDGET SYSTEM BUDGETARY ALLOCATIONS BUSINESS PLANS CAPACITY CONSTRAINTS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL PROJECTS CAPITAL SPENDING CENTRAL BANK CENTRAL GOVERNMENT CHART OF ACCOUNTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMMODITY PRICES COMPETITIVE BIDS CONSUMPTION SMOOTHING COST-EFFICIENCY CUT SPENDING CYCLICAL FACTORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT MANAGEMENT SYSTEM DEBT SUSTAINABILITY DISCRETIONARY ACTION DONOR ASSISTANCE DONOR COORDINATION DONOR FINANCING DONOR FUNDING ECONOMIC FLUCTUATIONS ECONOMIC GROWTH EDUCATION EXPENDITURES EDUCATION SERVICES EFFICIENCY GAINS EVALUATION CAPACITY EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURE ASSIGNMENTS EXPENDITURE GROWTH EXPENDITURE MANAGEMENT EXPENDITURES EXTERNAL AUDIT FINANCIAL AUDITS FINANCIAL BURDEN FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL AFFAIRS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL DECISIONS FISCAL DEFICIT FISCAL DEFICIT TARGET FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FISCAL REVENUE FISCAL RULES FISCAL STANCE FISCAL SUSTAINABILITY GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT POLICY GOVERNMENT PRIORITIES GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH EXPENDITURE HEALTH EXPENDITURES HEALTH FINANCING HEALTH INSURANCE HEALTH INSURANCE FUND HEALTH MINISTRY HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING INFLATION INFORMATION ASYMMETRY INFRASTRUCTURE SERVICES INTERNAL AUDIT INTERNAL CONTROLS MACROECONOMIC CONDITIONS MACROECONOMIC STABILITY MANAGEMENT CONTROLS MARKET ECONOMY MARKET FAILURES MASTER PLAN MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MEDIUM-TERM FISCAL FRAMEWORK NATIONAL AUDIT NATIONAL STATISTICS NATIONAL STATISTICS OFFICE OUTPUT RATIO PERFORMANCE CONTRACTING PERFORMANCE CONTRACTS PERFORMANCE MANAGEMENT PERFORMANCE MANAGEMENT FRAMEWORK POVERTY REDUCTION PRICE INDEX PRIVATE PENSION PRIVATE SECTOR PRIVATE SECTOR GROWTH PROCUREMENT POLICY PROGRAMS PUBLIC BUDGET PUBLIC DEBT PUBLIC DEFICIT PUBLIC DEFICITS PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE POLICY PUBLIC EXPENDITURE TRACKING PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC GOODS PUBLIC HEALTH PUBLIC HEALTH INTERVENTIONS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC REVENUE PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING RECURRENT EXPENDITURES RESOURCE ALLOCATION RESOURCE MANAGEMENT REVENUE LEVELS REVENUE SOURCES SCHOOL MANAGEMENT SERVICE DELIVERY SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY SYSTEM SOCIAL TRANSFER SOCIAL WELFARE STRENGTHENING BUDGET EXECUTION SUPREME AUDIT INSTITUTIONS SUSTAINABILITY ANALYSIS TAX ADMINISTRATION TAX COLLECTION TAX POLICY TOTAL EXPENDITURES TOTAL PUBLIC SPENDING TRANSPARENCY TREASURY MANAGEMENT TREASURY SYSTEM UNCERTAINTY |
author |
World Bank |
author_facet |
World Bank |
author_sort |
World Bank |
title |
Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report |
title_short |
Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report |
title_full |
Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report |
title_fullStr |
Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report |
title_full_unstemmed |
Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report |
title_sort |
mongolia - consolidating the gains, managing booms and busts, and moving to better service delivery : a public expenditure and financial management review - core report |
publisher |
World Bank |
publishDate |
2009-01-02 |
url |
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 http://hdl.handle.net/10986/3017 |
work_keys_str_mv |
AT worldbank mongoliaconsolidatingthegainsmanagingboomsandbustsandmovingtobetterservicedeliveryapublicexpenditureandfinancialmanagementreviewcorereport |
_version_ |
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dig-okr-1098630172021-04-23T14:02:06Z 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 ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTABILITY MECHANISMS ACCRUAL ACCOUNTING ADVERSE CONSEQUENCES AGGREGATE DEMAND ALLOCATION ANNUAL BUDGET AUDIT OFFICE AUTOMATIC STABILIZERS BENEFICIARIES BUDGET BALANCE BUDGET CYCLE BUDGET DEFICIT BUDGET DEFICITS BUDGET DOCUMENTS BUDGET ENTITY BUDGET FRAMEWORK BUDGET INFORMATION BUDGET MANAGEMENT BUDGET PLANNING BUDGET PREPARATION BUDGET SITUATION BUDGET SURPLUSES BUDGET SYSTEM BUDGETARY ALLOCATIONS BUSINESS PLANS CAPACITY CONSTRAINTS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL PROJECTS CAPITAL SPENDING CENTRAL BANK CENTRAL GOVERNMENT CHART OF ACCOUNTS CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SOCIETY ORGANIZATIONS COMMODITY PRICES COMPETITIVE BIDS CONSUMPTION SMOOTHING COST-EFFICIENCY CUT SPENDING CYCLICAL FACTORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT MANAGEMENT SYSTEM DEBT SUSTAINABILITY DISCRETIONARY ACTION DONOR ASSISTANCE DONOR COORDINATION DONOR FINANCING DONOR FUNDING ECONOMIC FLUCTUATIONS ECONOMIC GROWTH EDUCATION EXPENDITURES EDUCATION SERVICES EFFICIENCY GAINS EVALUATION CAPACITY EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURE ASSIGNMENTS EXPENDITURE GROWTH EXPENDITURE MANAGEMENT EXPENDITURES EXTERNAL AUDIT FINANCIAL AUDITS FINANCIAL BURDEN FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL AFFAIRS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL DECISIONS FISCAL DEFICIT FISCAL DEFICIT TARGET FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FISCAL REVENUE FISCAL RULES FISCAL STANCE FISCAL SUSTAINABILITY GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT POLICY GOVERNMENT PRIORITIES GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH EXPENDITURE HEALTH EXPENDITURES HEALTH FINANCING HEALTH INSURANCE HEALTH INSURANCE FUND HEALTH MINISTRY HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING INFLATION INFORMATION ASYMMETRY INFRASTRUCTURE SERVICES INTERNAL AUDIT INTERNAL CONTROLS MACROECONOMIC CONDITIONS MACROECONOMIC STABILITY MANAGEMENT CONTROLS MARKET ECONOMY MARKET FAILURES MASTER PLAN MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MEDIUM-TERM FISCAL FRAMEWORK NATIONAL AUDIT NATIONAL STATISTICS NATIONAL STATISTICS OFFICE OUTPUT RATIO PERFORMANCE CONTRACTING PERFORMANCE CONTRACTS PERFORMANCE MANAGEMENT PERFORMANCE MANAGEMENT FRAMEWORK POVERTY REDUCTION PRICE INDEX PRIVATE PENSION PRIVATE SECTOR PRIVATE SECTOR GROWTH PROCUREMENT POLICY PROGRAMS PUBLIC BUDGET PUBLIC DEBT PUBLIC DEFICIT PUBLIC DEFICITS PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE POLICY PUBLIC EXPENDITURE TRACKING PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC GOODS PUBLIC HEALTH PUBLIC HEALTH INTERVENTIONS PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENT PROGRAM PUBLIC INVESTMENTS PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC REVENUE PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES PUBLIC SPENDING RECURRENT EXPENDITURES RESOURCE ALLOCATION RESOURCE MANAGEMENT REVENUE LEVELS REVENUE SOURCES SCHOOL MANAGEMENT SERVICE DELIVERY SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY SYSTEM SOCIAL TRANSFER SOCIAL WELFARE STRENGTHENING BUDGET EXECUTION SUPREME AUDIT INSTITUTIONS SUSTAINABILITY ANALYSIS TAX ADMINISTRATION TAX COLLECTION TAX POLICY TOTAL EXPENDITURES TOTAL PUBLIC SPENDING TRANSPARENCY TREASURY MANAGEMENT TREASURY SYSTEM UNCERTAINTY 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. 2012-03-19T17:22:15Z 2012-03-19T17:22:15Z 2009-01-02 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 http://hdl.handle.net/10986/3017 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank Economic & Sector Work :: Integrated Fiduciary Assessment East Asia and Pacific East Asia Asia Mongolia |