Ulaanbaatar
Tax revenue decreased by 15.8 percent
Economy
Ulaanbaatar /MONTSAME/ According to the preliminary results
in the first half of 2020, the total revenue of the general government budget
amounted to MNT 4.4 trillion, MNT 4.1 trillion of which accounted for
equilibrated revenue. Total equilibrated revenue was 94.1% of general
government budget revenue.
Total expenditure and net lending amounted to MNT 6.3
trillion, resulting in a deficit of MNT 2.2 trillion in the equilibrated
balance. However, in June 2020, total revenue and grants of General Government
budget reached MNT 794.7 billion, increased by MNT 97.7 billion or 14.0% and
total expenditure and net lending amounted to MNT 1.4 trillion, decreased by
MNT 226.0 billion or 14.1% compared to the previous month. General Government
budget revenue was comprised of 85.8% of tax revenue, 8.2% of non-tax revenue,
5.7% of the future heritage fund and 0.3% of the stabilization fund.
In the first half of 2020, tax revenue reached MNT 3.7
trillion, decreased by MNT 703.3 billion or 15.8% compared to the same period
of the previous year. This decrease was mainly due to decreases of MNT 222.9
billion or 19.5% in income taxes revenue, MNT 148.2 billion or 33.5% in other
taxes revenue, MNT 138.4 billion or 15.0% in social security revenue, MNT 96.9
billion or 9.2% in value added taxes, MNT 61.9 billion or 14.5% in excise taxes
revenue and MNT 27.1 billion or 7.5% in foreign activity revenues.
In the first half of 2020, social security contributions
revenue increased by 0.2 points, value added tax revenue by 1.9 points, foreign
activity revenues by 0.7 points and excise taxes revenue by 0.2 points, while
other taxes revenue decreased by 1.9 points, income taxes revenue decreased by
1.1 point as compared to the same period of the previous year.
In the first half of 2020, general government budget
expenditure and net lending reached MNT 6.3 trillion, increased by MNT 1.6
trillion or 33.8% compared to the same period of the previous year. This
increase was primarily affected by an increase of MNT 1.1 trillion or 27.5% in
current expenditure and MNT 592.8 billion or 93.2% in capital expenditure.
Source: National Statistics Office
