Today /2014.10.31/ a discussion on the preparation of the implementation of the Budget Transparency law or “A Glass Account Law”, initiated by the President of Mongolia was held at the Citizen’s Chamber. At the discussion-meeting organized by the Office of the President of Mongolia, Deputy Ministers, State Secretaries of the Ministries, President's Advisors, President’s Office, Parliament Office, Cabinet Office of the Government, related agencies, authorities of the capital city and districts, NGO’s, citizens and representatives from media agencies were present.

Opening the discussion, Citizen Participation and Economic Policy Advisor to the President L.Dashdorj noted: “At the initiative of the President of Mongolia, the Budget Transparency law as one of the fundamental legal mechanisms of the Smart Government policy was approved by the Parliament. This law enables citizens’ control and monitoring state and local budget, ensuring a transparent system of reporting on financial transactions of public organizations. Budget Transparency Law will enter into force on January 1, 2015, and certain rules needed to implement the law”.

Chief of Staff of the Office of the President P.Tsagaan noted: “In the scope of the Smart Government policy, Budget Transparency law was initiated and submitted to the Parliament by President Elbegdorj. This law was rejected once, but we must appreciate that the Parliament eventually approved it.

Democracy is based on two core principles: accountability and transparency of the public servant. Taking this opportunity, I would like to inform that at the President’s initiative draft law on accountability is also being implemented. As President said “It is important what politicians and authorities say. But the spending of the taxpayers money, budget and loan is more important for the people”. Many people believe that the Budget Transparency law would make a huge positive impact on Mongolian society and state budget investment efficiency. Spending of the taxpayers money, financial aid, foreign investment and loan will be transparent. Budget Transparency law will promote citizens’ participation and control, preventing some authorities misuse of their position. The law will help decrease financial crimes and corruption. Therefore, this is an important law which meets the interests of the individuals, the authorities and the country.

President gives great importance to the implementation of the law. I believe that this law will bring many positive results to the development of our country. Ministry of Finance would play key role in preparing the implementation of the law. Today many people gathered here, who are committed to serve as a role model and lead by example in implementing the law.

Transparency Law will take effect on January 1, 2015 and from this date public organizations will have to report on their website their financial transactions over 5 million tugrik. The first two authorities who signed the transaction will be obliged to report the document to public. In case of not fulfilling their duty, this could be an evidence of immediate dismissal from office. Also, the law includes an article which aims to reduce pressure on state budget. An official’s decision made on behalf of the Ministries or public organizations must be registered in the state administration organizations.

After the discussion, State Secretary of the Ministry of Finance Kh.Gantsog made a short introduction about the Budget Transparency law and answered questions from the journalists.