Master budget in first 7 months of 2016Economy
Ulaanbaatar /MONTSAME/ In the first 7 months of 2016, total equilibrated revenue and grants of the General Government Budget amounted to MNT 3040.2 billion and total expenditure and net lending amounted to MNT 5014.3 billion, representing a deficit of MNT 1974.1 billion in the balance.
Tax revenue reached MNT 2661.1 billion, which has decreased by MNT 85.8 billion or 3.1 percent compared with the same period of the previous year.
This decrease was mainly due to decreases of MNT 135.4 billion or 32.6 percent in other taxes, notwithstanding the fact that social insurance revenue and taxes on property increased by MNT 47.1 billion or 17.8 percent compared to the same period of last year.
In the first 7 months of 2016, total expenditure and net lending of the General Government Budget reached MNT 5014.3 billion. It has increased by MNT1233.6 billion or 32.6 percent compared with the end of July of 2015.
This increase mainly reflected increases of MNT 538.3 billion or 17.0 percent in current expenditure, by MNT 120.4 billion or 20.7 percent in capital expenditure against the same period of the previous year.