Ulaanbaatar
General government budget revenue decreased by 11.7 percent in February
Economy
Ulaanbaatar/MONTSAME/. In the first two months 2020, general government
budget revenue amounted to MNT 1.5 trillion by preliminary results, MNT 1.4
trillion of which accounted for equilibrated revenue. For the general
government budget revenue structure in the first two months of 2020, 93.5% was
accumulated from equilibrated revenue.
Total expenditure and net lending amounted to MNT 1.5 trillion, resulting in a deficit of MNT 120.0 billion in the equilibrated balance.
In February 2020, the general government budget revenue amounted to MNT
697.0 billion, decreased by MNT 92.6 billion or 11.7%, and total expenditure
and net lending amounted to MNT 848.0 billion increased by MNT 253.9 billion or
42.7%, compared to the same period of the previous year.
The General Government budget revenue was composed of tax revenue (85.7%),
non-tax revenue (7.8%), future heritage fund (6.2%), and the stabilization fund
(0.3%).
In the first two months 2020, tax revenue reached MNT 1.3 trillion,
decreased by MNT 76.2 billion or 5.7% compared to the same period of the
previous year. This growth was mainly due to decreases of MNT 70.3 billion or
25.8% in value-added taxes, MNT 33.5 billion or 23.6% in other taxes’ revenue
and MNT 19.1 billion or 12.8% in the income of particular purposes, while there
was an increase by MNT 36.7 billion or 14.0% social security revenue and MNT
0.2 billion or 1.2% in property tax.
In the first two months 2020, 32.2% of the total tax revenue was
accumulated from income tax, 23.8% from social security contributions, 16.0%
from value-added tax, 10.4% from excise taxes, 9.8% from other taxes and 7.5%
from foreign activity revenues.
In the first two months of 2020, general government budget expenditure
and net lending increased by MNT337.0 billion or 29.2% compared to the same
period of the previous year, totaling up to MNT1.5 trillion by preliminary
results. It was primarily affected by an increase of MNT225.1 billion or 20.4%
in current expenditure and MNT115.0 billion or 3 times in capital expenditure.
The general government budget expenditure was composed of current
expenditure (88.5%) and capital expenditure (11.5%).
Source:
National Statistics Office of Mongolia
