Tax revenue reaches MNT6.2 trillion as of first eight months of 2019Economy
Ulaanbaatar/MONTSAME/. In the first 8 months of 2019, total equilibrated revenue and grants of the General government budget amounted to MNT 6.9 trillion and total expenditure and net lending amounted to MNT 6.3 trillion, resulting a surplus of MNT 549.7 billion in the equilibrated balance.
In August 2019, equilibrated revenue and grants of the General government budget reached MNT 841.2 billion, decreased by MNT 293.4 billion or 25.9% from the previous month whereas, total expenditure and net lending reached MNT 826.8 billion, increased by MNT 35.3 billion or 4.5% from the previous month.
In the first 8 months of 2019, tax revenue reached MNT 6.2 trillion, increased by MNT 1104.8 billion or 21.5% compared with the same period of previous year. This growth was mainly affected by increases of MNT 362.9 billion or 28.1% in income tax, MNT 267.1 billion or 26.9% in social security revenue, MNT174.9 billion or 13.0% in value added taxes, MNT 116.4 billion or 24.1% in other tax, MNT 89.3 billion or 18.0% in excise taxes and MNT 80.7 billion or 18.7% in revenue from foreign activities.
General Government budget revenue was comprised of 81.3% of tax revenue, 8.2% of non-tax revenue, 10.0% of the future heritage fund and 0.5% of the stabilization fund.
In the first 8 months of 2019, total expenditure and net lending of the General government budget increased by MNT 920.3 billion or 17.0% compared with the same period of previous year. This increase was mainly due to MNT 532.1 billion or 11.7% increase in current expenditure and MNT 460.4 billion or 69.1% increase in capital expenditure.
General government budget expenditure and net lending was comprised of 80.1% of current expenditure, 17.8% of capital expenditure and 2.1% of net lending.
Source: National Statistics Office of Mongolia