Government budget in deficit of 2 trillion MNTEconomy
Ulaanbaatar /MONTSAME/ In the first 9 months of 2016, total equilibrated revenue and grants of the General Government Budget amounted to MNT 4012.7 billion and total expenditure and net lending amounted to MNT 6064.4 billion, representing a deficit of 2051.7 billion in balance.
Total expenditure and net lending of the master budget reached MNT 6064.4 billion, which indicates increase by 1151.2 billion (23.4%) compared to the same period of the previous year .
Tax revenue amounted to MNT 3514.4 billion, showing increase by 14.5 billion (0.4 %) against the same period of last year. This growth reflected increases in social contributions by MNT 84.1 billion(11.1%), excise tax, MNT 82.2 billion (20.0 %) and value added tax, MNT 15.5 billion (2.0 %).