Revenue and grants of general budget increase by 25.5 percent in OctoberEconomy
Ulaanbaatar/MONTSAME/. In the first 10 months of 2019, total equilibrated revenue and grants of the General government budget amounted to MNT 8.8 trillion and total expenditure and net lending amounted to MNT 8.3 trillion, resulting a surplus of MNT 545.4 billion in the equilibrated balance.
In October 2019, equilibrated revenue and grants of the General government budget reached MNT 1.1 trillion, increased by MNT 222.2 billion or 25.5% from the previous month and total expenditure and net lending reached MNT 1.0 trillion, increased by MNT 96.4 billion or 10.3% from the previous month.
In the first 10 months of 2019, tax revenue reached MNT 8.0 trillion, increased by MNT 1.3 trillion or 19.2% compared with the same period of previous year. This growth was mainly affected by increases of MNT 399.7 billion or 22.8% in income tax, MNT 294.1 billion or 22.9% in social security revenue, MNT 243.5 billion or 13.9% in value added taxes, MNT 136.6 billion or 21.9% in other tax, MNT 110.5 billion or 17.8% in excise taxes and MNT 96.7 billion or 17.4% in revenue from foreign activities.
General Government budget revenue was comprised of 81.5% of tax revenue, 8.5% of non-tax revenue, 9.2% of the future heritage fund and 0.8% of the stabilization fund.
In the first 10 months of 2019, total expenditure and net lending of the General government budget reached MNT 8.3 trillion, increased by MNT 1.1 trillion or 15.6% compared with the same period of previous year. This increase was mainly due to MNT 697.6 billion or 11.9% increase in current expenditure and MNT 517.0 billion or 49.4% increase in capital expenditure.
General government budget expenditure and net lending was comprised 78.8% of current expenditure, 18.8% of capital expenditure and 2.4% of net lending.
Source: National Statistics Office