Economy

General government budget is deficit 2017-10-12 13:54

In the first 9 month of 2017, total equilibrated revenue and grants of the General Government Budget amounted to MNT 5.0 trillion and total expenditure and net lending amounted to MNT 5.8 trillion, representing a deficit of MNT 737.9 billion in the equilibrated balance. 
 
Deficit of total equilibrated balance decreased by 1.3 trillion compared to the same period of the previous year. It was due to increase of revenue by MNT 1.0 trillion (25.5%) and decrease of expenditure by MNT 291.4 billion (4.8%).
 
Tax revenue reached MNT 4.4 trillion showing an increase by MNT 876.5 billion (24.9%) compared to the same period of the previous year. This growth was mainly affected by increases in income taxes by MNT 367.9 billion (51.3%), by MNT 378.9 billion (48.8%) in value added tax, by MNT 118.0 billion (50.6%) in import and export tax, by MNT 84.0 billion (10.0%) in social security income, and by MNT 45.9 billion (12.5%) in other taxes. However there was a decrease in excise taxes by 26.9% and MNT 132.7 billion. 
 
General Government revenue accounted for 80.0% of tax revenue, 11.7% of non-tax revenue, 3.7% of stabilization fund and 4.6% of the future heritage fund.
 
In the first 9 month of 2017, total expenditure and net lending of the General Government Budget amounted to MNT 5.8 trillion showing a decline by MNT 291.4 billion (4.8%) compared to the same period of the previous year. This decline was mainly affected by decrease in net lending by MNT 352.1 billion (71.3%) and capital expenditure by MNT 126.6 billion (13.6%). However there was an increase in interest expense by MNT 255.6 (49.0%) and current expenditure MNT 187.3 billion (4.0%). 
 
General Government expenditure and net lending accounted for 83.6% of current expenditure, 14.0% of capital expenditure and 2.5% of net lending.

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