Ulaanbaatar
Tax revenue increases by MNT 272.8 billion
Economy
Ulaanbaatar/MONTSAME/ In the first 2 months of 2019, total equilibrated revenue and grants of the General Government Budget amounted to MNT 1454.3 billion and total expenditure and net lending amounted to MNT 1152.3 billion, resulting a surplus of MNT 302.1 billion in the equilibrated balance.
In February, equilibrated
revenue and grants of the General Government Budget reached MNT 763.8 billion,
increased by MNT 73.2 billion or 10.6 percent and total expenditure and net
lending reached MNT594.0 billion, increased by MNT 35.8 billion or 6.4 percent
from the previous month.
In the first 2 months of
2019, tax revenue reached MNT1331.4 billion, increased by MNT272.8 billion or
25.8 percent compared with the same period of previous year. This growth was
mainly affected by increases of MNT75.4 billion or 23.9 percent in income tax,
MNT 56.2 billion or 25.9 percent in value added taxes, MNT 44.8 billion or 20.6
percent in social security revenue, MNT 42.2 billion or 39.1 percent in excise
taxes, MNT 35.5 billion or 33.3 percent in other tax, and MNT 16.9 billion or
20.9 percent in revenue from foreign activities.
General Government budget
revenue was comprised of 81.3 percent of tax revenue, 7.5 percent of non-tax
revenue, 10.7 percent of the future heritage fund and 0.5 percent of the
stabilization fund.
In the first 2 months of
2019, total expenditure and net lending of the General Government Budget amounted
to MNT 1152.3 billion, increased by MNT 35.3 billion or 3.2 percent compared
with the same period of previous year. This increase is mainly due to MNT 102.2
billion increase in current expenditure, even though capital expenditure
decreased by MNT 55.6 billion or 49.6 percent, interest expenditure decreased
by MNT 44.7 billion or 41.5 percent and subsidies decreased by MNT 14.6 billion
or 31.2 percent. General Government Budget expenditure and net lending was
comprised of 95.5 percent of current expenditure and 4.9 percent of capital expenditure.
Source:
National Statistics Office of Mongolia
