Equilibrated revenue increased by 49.5 percent compared to the same period of previous year

Economy
unurzul@montsame.mn
2021-09-24 14:22:23

Ulaanbaatar/MONTSAME/. According to the preliminary results in the first eight months of 2021, the total revenue of the general government budget was MNT 9.8 trillion, increased by MNT 3.7 trillion (61.0%) compared to the same period of previous year. The equilibrated revenue of the general government budget was MNT 8.5 trillion and increased by MNT 2.8 (49.5%) trillion compared to the same period of previous year. On the other hand, the total expenditure and net lending was MNT 9.6 trillion in the first eight months of 2021, resulting in deficit of MNT 1.0 trillion decreased by MNT 1.6 (60.8%) trillion compared to the same period of previous year.


In August 2021, the total equilibrated revenue and grants of general government budget was MNT 863.0 billion, decreased by MNT 367.3 billion (29.9%) compared to the previous month. The total expenditure and net lending were MNT 1.1 trillion, increased by MNT 82.8 billion (8.3%) compared to the previous month. The equilibrated balance of the general government budget was in deficit of 203.1 billion in June 2021 and 211.2 billion in August while it was in surplus of 238.9 billion in July 2021.


In the first eight months of 2021, stabilization fund revenue increased by 4.5 percentage points, the future heritage fund revenue increased by 2.2 percentage points and non-tax revenue increased by 1.3 percentage points while tax revenue decreased by 8.0 percentage points compared to the same period of previous year.


In the first eight months of 2021, tax revenue reached MNT 7.5 trillion, increased by MNT 2.4 trillion (45.9%) compared to the same period of previous year. This increase was mainly due to MNT 1.2 trillion (92.1 %) increase in income tax revenue, MNT 430.6 billion (31.7%) increase in value added tax revenue, MNT 339.4 billion (33.5%) increase in social security revenue, MNT 198.4 billion (46.6%) increase in other taxes revenue and MNT 133.6 billion (28.2%) increase in foreign activity revenue.


According to the preliminary results of August 2021, tax revenue reached MNT 782.9 billion, decreased by MNT 373.0 billion (32.2%) compared to previous month. This decrease was mainly due to MNT 416.1 billion (81.0%) decrease in income tax revenue, MNT 23.9 billion (25.5%) decrease in other taxes revenue while MNT 48.8 billion (24.8%) increase in value added tax revenue, MNT 9.5 billion (11.6%) increase in excise tax revenue and MNT 9.3 billion (11.9%) increase in foreign activity revenue.


In the first eight months of 2021, general government budget expenditure and net lending was MNT 9.6 trillion, increased by MNT 1.2 trillion (14.5%) compared to the same period of previous year. This increase was primarily affected by MNT 1.6 trillion (24.9%) increase in current expenditure while MNT 538.9 billion (30.7%) decrease in capital expenditure compared to the same period of previous year.


In August 2021, the general government budget expenditure and net lending was MNT 1.1 trillion, increased by MNT 82.8 billion (8.3%) compared to previous month. This increase was primarily affected by MNT 90.3 billion (67.5%) increase in capital expenditure while MNT 2.1 billion (0.2%) decrease in current expenditure compared to the previous month.


Source: National Statistics Office of Mongolia