Total expenditure increased by 26.7 percent compared to previous month

Economy
unurzul@montsame.gov.mn
2020-11-17 12:14:38

Ulaanbaatar/MONTSAME/. According to the preliminary results in the first ten months of 2020, the total revenue of the general government budget was MNT 8.3 trillion. The equilibrated revenue of the general government budget was MNT 7.6 trillion and 91.5% of the total revenue of the general government budget. On the other hand, the total expenditure and net lending was MNT 10.8 trillion in the first ten months of 2020, resulting in a deficit of MNT 3.3 trillion in the equilibrated balance.


In October 2020, the total equilibrated revenue and grants of the general government budget was MNT 0.9 trillion, decreased by MNT 147.1 billion or 14.7%, the total expenditure and net lending was MNT 1.4 trillion, increased by MNT 289.8 billion or 26.7% compared to the previous month.


In October 2020, the equilibrated balance of the general government budget was in deficit of 519.7 billion, increased by MNT 437.0 billion, or 6.3 times compared to the previous month.


The General government budget revenue was comprised of 83.1% of tax revenue, 8.4% of non-tax revenue, 8.0% of the future heritage fund, and 0.5% of the stabilization fund.


the first ten months of 2020, tax revenue reached MNT 6.9 trillion, decreased by MNT 1.1 trillion, or 14.3% compared to the same period of the previous year. This decrease was mainly due to MNT 410.4 billion or 19.0% decrease in income tax revenue, MNT 318.4 billion or 20.2% decrease in social security revenue, MNT 168.5 billion or 8.4% decrease in value-added tax revenue, MNT 133.2 billion or 17.5% decrease in other taxes revenue, MNT 84.3 billion or 11.5% decrease in excise tax revenue and MNT 32.2 billion or 4.9% decrease in foreign activity revenue.


In the first 10 months of 2020, general government budget expenditure and net lending was MNT 10.8 trillion, increased by MNT 2.5 trillion or 30.3% compared to the same period of the previous year. This increase was primarily affected by MNT 2.1 trillion or 32.0% increase in current expenditure and MNT 587.7 billion or 37.6% increase in capital expenditure, though net lending decreased by MNT 166.3 billion or 84.8%, compared to the same period of previous year.


In the current expenditure, 44.8% was current transfers, 42.4% was expenditure on goods and services, 9.3% was interest payment and 3.5% was subsidies.

 

Source: National Statistics Office

 

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