GGB sees deficit in May

Economy
en_khuder@montsame.mn
2016-06-14 15:38:25

Ulaanbaatar /MONTSAME/ In the first five months of this year, total equilibrated revenue and grants of the General Government Budget (GGB) amounted to MNT 2,085.1 billion and total expenditure and net lending amounted to MNT 2,962.1 billion, which represents a deficit of MNT 877.0 billion in the balance.

Compared to the same period of the previous year, tax revenue has decreased by MNT 9.1 billion or 0.5%, which was mainly due to decreases of MNT 98.9 billion or 35.8% in other taxes; MNT 1.6 billion or 0.4% in value added, while social contributions, income tax, property tax, excise taxes increased by MNT 6.1-47.1 billion or 2.8-20.6% against the previous year.

In the same period, total expenditure and net lending of the GGB reached MNT 2,962.1 billion, which increased by MNT 516.6 billion or 21.1% against the previous year. This increase was mainly due to increases of MNT 363.0 billion or 16.9% in current expenditure; MNT 129.1 billion or 44.9% in capital expenditure; MNT 100.5 billion or 11.7% in current transfers compared to the same period of the previous year.