Budget revenue amounted to MNT9.7 trillionEconomy
Ulaanbaatar/MONTSAME/. In the first 11 months of 2019, total equilibrated revenue and grants of the General government budget amounted to MNT 9.7 trillion and total expenditure and net lending amounted to MNT 9.2 trillion, resulting a surplus of MNT 486.7 billion in the equilibrated balance.
In November 2019, equilibrated revenue and grants of the General government budget reached MNT 842.9 billion, decreased by MNT 252.0 billion or 23.0% from the previous month and total expenditure and net lending reached MNT 901.7 billion, decreased by MNT 132.5 billion or 12.8% from the previous month.
In the first 11 months of 2019, tax revenue reached MNT 8.8 trillion, increased by MNT 1.4 trillion or 19.0% compared with the same period of previous year. This growth was mainly affected by increases of MNT 422.2 billion or 22.5% in income tax, MNT 323.1 billion or 22.8% in social security revenue, MNT 260.9 billion or 13.3% in value added taxes, MNT 175.0 billion or 26.4% in other tax, MNT 102.2 billion or 14.8% in excise taxes and MNT 101.3 billion or 16.4% in revenue from foreign activities.
General Government budget revenue was comprised of 81.6% of tax revenue, 8.7% of non-tax revenue, 8.8% of the future heritage fund and 0.9% of the stabilization fund.
In the first 11 months of 2019, total expenditure and net lending of the General government budget reached MNT 9.2 trillion, increased by MNT 1.2 trillion or 15.6% compared with the same period of previous year. This increase was mainly due to MNT 755.3 billion or 11.7% increase in current expenditure and MNT 561.2 billion or 45.9% increase in capital expenditure.
General government budget expenditure and net lending was comprised 78.2% of current expenditure, 19.4% of capital expenditure and 2.4% of net lending.
Source: National Statistics Office