Total equilibrated balance shows a deficit of MNT1.6 trillion

Economy
unurzul@montsame.mn
2020-06-15 14:34:38

Ulaanbaatar/MONTSAME/. According to the preliminary results in the first five months of 2020, the total revenue of the general government budget amounted to MNT 3.6 trillion, MNT 3.3 trillion of which accounted for equilibrated revenue. Total equilibrated revenue was 93.8% of the general government budget revenue.


Total expenditure and net lending amounted to MNT 4.9 trillion, resulting in a deficit of MNT 1.6 trillion in the equilibrated balance.


However, in May 2020, total revenue and grants of General Government budget reached MNT 697.0 billion, increased by MNT 54.6 billion or 8.5%, and total expenditure and net lending amounted to MNT 1.6 trillion, increased by MNT 631.6 billion or 65.1% compared to the previous month.


General Government budget revenue was comprised of 85.7% of tax revenue, 8.1% of non-tax revenue, 5.9% of the future heritage fund, and 0.3% of the stabilization fund.


In the first five months of 2020, tax revenue reached MNT 3.1 trillion, decreased by MNT 533.3 billion, or 14.9% compared to the same period of the previous year. This decrease was mainly due to decreases of MNT 116.2 billion or 31.2% in other taxes revenue, MNT 84.7 billion or 10.4% in value-added taxes, MNT 62.8 billion or 18.3% in excise taxes revenue, MNT 60.2 billion or 8.1% in social security revenue and MNT 23.5 billion or 8.1% in foreign activity revenues.


In the first five months of 2020, 25.3% of the total tax revenue was accumulated from income tax, 22.5% from social security contributions, 23.9% from value-added tax, 9.2% from excise taxes, 8.7% from foreign activity revenues and 10.4% from other taxes. In the first five months of 2020, social security contributions revenue increased by 1.7 points, value-added tax revenue by 1.2 points and foreign activity revenues by 0.6 points, while other taxes revenue decreased by 1.6 points, excise taxes revenue by 0.4 points and income tax by 1.5 points as compared to the same period of the previous year.


In the first five months of 2020, general government budget expenditure and net lending reached MNT 4.9 trillion, increased by MNT 1116.4 billion or 29.3% compared to the same period of the previous year. This was primarily affected by an increase of MNT 873.2 billion or 27.3% in current expenditure and MNT 301.8 billion or 57.6% in capital expenditure.


Current expenditure was comprised of 42.5% from expenditure on goods and services, 40.8% from current transfers 8.3% from interest and 8.4% from subsidies.


By preliminary results of May 2020, capital expenditure amounted to MNT 825.8 billion, increased by MNT 301.8 billion or 57.6% compared to the same period of the previous year.


The increase in the total capital expenditure was mainly resulted from the increase of MNT 209.8 billion or 52.9% in construction expenditure, MNT 66.1 billion or 90.4% in other capital expenditure and MNT 26.1 billion or 2.3 times in equipment expenses, while there was a decrease of MNT 2.0 billion or 8.3% in capital repairs expenditure compared to the same period of the previous year.


For the total capital expenditure, 73.4% account for construction expenses, 16.8% for other capital expenses, 5.6% for equipment expenses, 2.7% for capital repairs expenses and 1.5% for strategy reserve fund capital expenses. In the first five months of 2020, other capital expenses increased by 2.9 points and equipment expenses by 1.8 points, while construction expenses decreased by 2.2 points, capital repairs expenses by 1.9 points and strategy reserve fund capital expenses by 0.5 points as compared to the same period of the previous year.

 

Source: National Statistics Office