General gov’t budget sees deficit in AprilEconomy
Ulaanbaatar /MONTSAME/ In the first four months of this year, total revenue and grants of the General Government Budget (GGB) amounted to MNT 1,656.3 billion and total expenditure and net lending amounted to MNT 2,319.9 billion, representing a deficit of MNT 663.6 billion in the balance.
Compared to same period of the previous year, tax revenue decreased by MNT 12.6 billion or 0.9%, which was mainly due to decreases of MNT 102.1 billion or 41.7% in other taxes, fees, and by MNT 101.8 billion or 29.9% in income tax, whereas social contributions, taxes on property, VAT increased by MNT 7.3-183.0 billion or 4.2-59.5% against the previous year.
GGB’s total expenditure and net lending reached MNT 23,19.9 billion which increased by MNT 400.1 billion or 20.8% against the previous year. It was mainly due to increases of MNT 248.5 billion or 14.5% in current expenditure, by MNT 137.8 billion or 72.1% in capital expenditure and MNT 82.0 billion or 12.0% in current transfers against the previous year.