Ulaanbaatar
Government budget expenditure increases as of May
EconomyUlaanbaatar /MONTSAME/ In the first five months of 2016, total equilibrated revenue and grants of the Government Budget amounted to MNT 2085.1 billion (1.056 billion USD) where its total expenditure and net lending reached MNT 2962.1 billion, representing a deficit of MNT 877.0 billion in the equilibrated balance.
Compared to the same period of 2015, tax revenue decreased by MNT 9.1 billion or 0.5 percent. This decrease was mainly due to decreases of MNT 98.9 billion or 35.8 percent in other taxes by MNT 1.6 billion or 0.4 percent in value added, whereas social contributions, income tax, property tax, excise taxes increased by MNT 6.1-47.1 billion or 2.8-20.6 percent compared to the same period of 2015.
In the first 5 months of 2016, total expenditure and net lending of the Government Budget reached MNT 2962.1 billion, which increased by MNT 516.6 billion or 21.1 percent compared to same period of the previous year.
This increase was mainly due to increases of MNt 363.0 billion or 16.9 percent in current expenditure, by MNT 129.1 billion or 44.9 percent in capital expenditure,by MNT 100.5 billion or 11.7 percent in current transfers compared to same period of 2015.
