Law on Budget 2011 (Төсвийн тухай хууль) and Law on State Audit 2020 (Төрийн аудитын тухай хууль)

Mongolia's fiscal transparency framework is anchored in the Law on Budget 2011 (Төсвийн тухай хууль), which introduced program-based budgeting, a 3-year Medium-Term Fiscal Framework (MTFF), and quarterly execution reporting requirements. The framework is reinforced by the Fiscal Stability Law 2010 (FSL, Төсвийн тогтвортой байдлын тухай хууль), which imposes a structural deficit ceiling (2% of GDP) and a debt ceiling (40-50% of GDP), though the FSL was effectively suspended during the 2014-2016 commodity price collapse and was partially restored as a condition of the 2017-2019 IMF Extended Fund Facility (EFF, ~$440 million). The National Audit Office (MNAO, Үндэсний Аудитын Газар) was strengthened by the Law on State Audit 2020, which aligned audit standards with ISSAI and reinforced the MNAO's accountability to the State Great Khural rather than the executive. The 2021 Open Data Law (amendment to the Law on Information Transparency 2011) mandated machine-readable budget publication via opendata.gov.mn, though implementation may lag the OBS 2021 reference date (December 2020). Mongolia's OBS 2021 transparency score of 60 is just below the 61-point adequacy threshold; budget oversight scored 76 reflecting functional parliamentary and audit processes. Off-budget contingent liabilities from state-owned enterprises (notably Erdenes Tavan Tolgoi coal company) remain a known transparency risk identified in PEFA 2021 and OBS reports. Mongolia has 3 completed PEFA assessments (2015, 2021 national; 2022 Ulaanbaatar City subnational). No formal independent fiscal institution exists; the Fiscal Stability Council under the FSL is advisory. Currency: MNT. Fiscal year: January 1 - December 31. OECD enhanced engagement partner; IMF member.

Transparency Requirements