世界银行：2025年蒙古公共财政评论：让这次与众不同促进稳定、可持续和包容性发展的财政改革报告（英文版）

After three difficult years, a new phase of mining-led growth that began in late 2022 has helped Mongolia emerge from a period of acute macroeconomic imbalances. Despite improvements in fiscal and macroeconomic outcomes, some vulnerabilities persist. Mongolia has experienced repeated boom-bust cycles in the past - but can this time be different? Mongolia’s economic stability, resilience, and development depend critically on fiscal reforms to reduce macroeconomic volatility and rebuild fiscal