Ulaanbaatar
GGB balance has deficit
EconomyUlaanbaatar /MONTSAME/ In the first two months of this year, total balanced revenue and grants of the General Government Budget (GGB) amounted to MNT 708.8 billion and total expenditure and net lending amounted to MNT 967.3 billion, showing a deficit of MNT 258.5 billion in the balance.
Compared to same period of the previous year, tax revenue decreased in the first two months of 2016 by MNT 27.4 billion or 4.2%. This decrease was mainly due to decreases of MNT 50.4 billion or 48.1% in other taxes, fees; MNT 39.3 billion or 26.7% in income tax; MNT 3.2 billion or 9.1% in taxes on international trade and transactions; MNT 0.7 billion or 36.1% in income of special purposes, while social contributions, taxes on property, value added tax, excise taxes increased by MNT 3.6-32.1 billion or 13.3-70.9% in the period against the previous year.
In the first two months of 2016, total expenditure and net lending of the GGB reached MNT 967.3 billion, increasing by MNT 36.4 billion or 3.9% compared to same period of the previous year. This increase was mainly due to increases of MNT 86.5 billion or 11.0% in current expenditure, MNT 20.2 billion or 6.1% in current transfers although there were decreases of MNT 73.2 billion or 45.1% in capital expenditure compared to same period of the previous year.
