Tax revenue increases by 30.8 percent

Economy
unurzul@montsame.gov.mn
2018-12-12 17:48:41

Ulaanbaatar/MONTSAME/ In the first 11 months of 2018, total equilibrated revenue and grants of the General Government Budget reached MNT 8.2 trillion and total expenditure and net lending amounted to MNT 8.0 trillion. In the first 11 months of 2017, the equilibrated balance was in deficit of MNT980.4 billion, however, it is in surplus of MNT 266.4 billion in first 11 months of 2018.

In November 2018, equilibrated revenue and grants of the General Government Budget decreased by MNT 303.2 billion and total expenditure and net lending increased by MNT 33.9 billion from the previous month.

Tax revenue reached MNT 7.4 trillion, increased by MNT 1.7 trillion or 30.8 percent compared to the same period of the previous year. This growth was mainly affected by increases of MNT 483.6 billion or 32.7 percent in value added tax, MNT 437.2 billion or 30.5 percent in income tax, MNT 264.3 billion or 22.9 percent in social security income, MNT 230.5 billion or 50.1 percent in excise taxes, MNT 160.8 billion or 35.3 percent in revenue of foreign activities and MNT 134.9 billion or 25.5 percent in other taxes.

The General Government revenue were comprised of 81.4 percent of tax revenue, 9.6 percent of non-tax revenue, 6.7 percent of the future heritage fund and 2.2 percent of stabilization fund.

In the first 11 months of 2018, total expenditure and net lending of the General Government Budget amounted to MNT 8.0 trillion, increased by MNT 522.6 billion or 7.0 percent compared to the same period of the previous year. This growth was affected by increases of MNT 379.2 billion or 6.3 percent in current expenditure, MNT 80.4 billion or 37.3 percent in net lending, MNT 63.0 billion or 5.4 percent in capital expenditure, whereas, subsidies decreased by MNT 26.3 billion or 12.1 percent and MNT 33.5 billion or 3.4 percent in interest compared to the same period of the previous year.

The General Government expenditure and net lending were comprised of 80.7 percent of current expenditure, 15.3 percent of capital expenditure and 4.0 percent of net lending.


                                                                                                                                 source: National Statistics Office