Tax revenue increases by 21.2 percentEconomy
Ulaanbaatar/MONTSAME/. In the first 9 months of 2019, total equilibrated revenue and grants of the General government budget amounted to MNT 7.7 trillion and total expenditure and net lending amounted to MNT 7.3 trillion, resulting a surplus of MNT 484.6 billion in the equilibrated balance.
In September 2019, equilibrated revenue and grants of the General government budget reached MNT 872.7 billion, increased by MNT 31.5 billion or 3.7% from the previous month and total expenditure and net lending reached MNT 937.8 billion, increased by MNT 111.1 billion or 13.4% from the previous month.
In the first 9 months of 2019, tax revenue reached MNT 7.0 trillion, increased by MNT 1225.1 billion or 21.2% compared with the same period of previous year. This growth was mainly affected by increases of MNT 371.7 billion or 26.3% in income tax, MNT 273.4 billion or 24.0% in social security revenue, MNT 231.9 billion or 15.1% in value added taxes, MNT 135.9 billion or 25.0% in other tax, MNT 104.4 billion or 18.9% in excise taxes and MNT 94.9 billion or 19.4% in revenue from foreign activities.
General Government budget revenue was comprised of 81.0% of tax revenue, 8.5% of non-tax revenue, 9.7% of the future heritage fund and 0.8% of the stabilization fund.
In the first 9 months of 2019, total expenditure and net lending of the General government budget reached MNT 7.3 trillion, increased by MNT 989.4 billion or 15.8% compared with the same period of previous year. This increase was mainly due to MNT 634.7 billion or 12.3% increase in current expenditure and MNT 477.1 billion or 56.6% increase in capital expenditure.
General government budget expenditure and net lending was comprised of 79.6% of current expenditure, 18.2% of capital expenditure and 2.2% of net lending.
Source: National Statistics Office of Mongolia