Government budget deficit amounts to MNT 2.3 trillionEconomy
Ulaanbaatar /MONTSAME/ So far in 2016, total equilibrated revenue and grants of the General Government Budget amounted to MNT 4,494.4 billion and total expenditure and net lending amounted to MNT 6,814.7 billion, representing a deficit of MNT 2,320.4 billion.
Total expenditure and net lending of the master budget reached MNT 6,814.7 billion, which indicates an increase of MNT 1,330.1 billion (24.3%) compared to the same period of the previous year.
Tax revenue reached MNT 3,970.2 bln. which showed an increase by MNT 25.2 billion (0.6 %) compared to the same period of the previous year. This growth was mainly due to increases in social contributions by MNT 98.4 billion (11.7 %), in excise tax of MNT 57.7 billion (12.1 %), value added tax of MNT 43.9 billion (5.2 %), in income tax of MNT 13.6 billion (1.7 %), while other taxes, non tax revenue decreased by MNT 196.8 billion (31.0 %).