Mongolia : Improving Public Investments to Meet the Challenge of Scaling Up Infrastructure

Abstract

The objective of this report is to
 analyze in depth the current public investment management
 system and to assess whether or not it is able to meet this
 challenge of delivering good quality projects in the
 priority areas in a macro-economically sustainable manner;
 and to recommend what needs to be done to improve the system
 so that it is able to effectively transform natural resource
 revenues into sustainable capital assets. In making its
 recommendations, this report focuses on some of the details
 that need to be laid out in implementing regulations in
 order to make the Fiscal Stability Law (FSL), Budget Law of
 Mongolia (IBL), and Public Procurement Law of Mongolia
 (PPLM) work. The report also suggests amendments to some of
 the existing laws that pose a risk to meeting the four
 objectives. In proposing policy options, the report is
 conscious of the political economy of reform and, wherever
 possible, analyzes the compatibility of the technical
 solutions with the political interests of policy-makers.