Financial Crime World

MONGOLIA STEPS UP ITS BUDGET TRANSPARENCY GAME

In a significant move towards fiscal transparency, the Mongolian government has made substantial progress in opening up its public finance data to citizens. According to the latest Open Budget Survey (OBS), Mongolia’s score in the Open Budget Index (OBI) increased by over 20% from 46 in 2017 to 56 in 2019 - a remarkable improvement that sets an example for other countries.

A STRONGER PARTNERSHIP BETWEEN GOVERNMENT AND CITIZENS

The government’s commitment to transparency is crucial in building a strong partnership between citizens and the authorities. “Improving budget transparency and enhancing public participation plays a crucial role in building a strong partnership between the government and the people,” Minister Ch. Khurelbaatar said.

Key Initiatives

  • Online Publication of Fiscal Data: The Ministry of Finance has made comprehensive fiscal and financial data available to citizens through various channels and formats.
  • Year-End Report and Pre-Budget Statement: These reports are now published online, providing citizens with timely access to important budget information.
  • Enacted Budget and Citizen’s Budget Booklets: These documents have also been released online, further enhancing transparency.

COVID-19 HIGHLIGHTS THE IMPORTANCE OF BUDGET TRANSPARENCY

The COVID-19 pandemic has underscored the need for governments to be transparent about their emergency measures, resource allocation, and policy decisions. Mongolia’s efforts to enhance budget transparency will enable citizens to understand how public resources are being used to address the crisis.

A CALL TO ACTION FOR MONGOLIA

While Mongolia has made significant progress in fiscal transparency, there is still work to be done to achieve its goals. To get closer to joining the ranks of more advanced countries with an OBI score of 61 or higher, Mongolia can take several steps:

Recommendations

  • Publish all eight key budget documents in a timely manner: This will ensure that citizens have access to comprehensive budget information.
  • Ensure online budget data is easy to understand and use: Citizens should be able to easily navigate and understand the budget data online.
  • Accelerate progress on open budgeting by joining global efforts and increasing public participation: Mongolia can learn from international best practices and involve citizens in the budget-making process.

Mongolia’s commitment to transparency and accountability will not only benefit its citizens but also contribute to the country’s socio-economic development. With continued support from international partners, Mongolia can achieve its ambitious targets and become a model for other countries in fiscal transparency.