Tax revenue increases by 33.7 percentEconomy
Ulaanbaatar/MONTSAME/ In January 2019, total equilibrated revenue and grants of the General Government Budget amounted to MNT 690.6 billion and total expenditure and net lending amounted to MNT 558.2 billion, resulting a surplus of MNT 132.3 billion in the equilibrated balance.
Equilibrated revenue and grants of the General Government Budget increased by MNT 160.2 billion or 30.2 percent and total expenditure and net lending by MNT 142.0 billion or 34.1 percent from the same period previous year.
Tax revenue reached MNT 626.3 billion, increased by MNT 157.7 billion or 33.7 percent compared with the same period of the previous year. This growth was mainly affected by increases of MNT 47.6 billion or 76.2 percent in other tax, MNT 42.6 billion or 54.1 percent in value added taxes, MNT 26.9 billion or 43.1 percent excise taxes, MNT 24.5 billion or 24.2 percent in social security revenue, MNT 17.5 billion or 43.3 percent in revenue of foreign activities and MNT 0.7 billion or 0.6 percent in income tax. However, there was a decrease in property taxes by MNT 3.2 billion or 69.3 percent.
General Government revenue was comprised of 73.8 percent of tax revenue, 7.6 percent of non-tax revenue, 18.6 percent of the future heritage fund.
In January 2019, total expenditure and net lending of the General Government Budget amounted to MNT 558.2 billion, increased by MNT 142.1 billion or 34.1 percent compared with the same period of previous year. This decline was mainly affected by increases in capital expenditure by MNT 23.9 billion or 4.6 times more and current expenditure by MNT 112.3 billion or 27.1 percent. However, there was a decrease in interest expenditure by MNT 41.8 billion or 94.3 percent.
General Government Budget expenditure and net lending was comprised of 94.3 percent of current expenditure, 5.5 percent of capital expenditure and 0.2 percent of net lending.
Source: National Statistics Office of Mongolia