ID :
235817
Wed, 04/11/2012 - 15:52
Auther :

GENERAL GOV'T BUDGET HAS DEFICIT

Ulaanbaatar, Mongolia /MONTSAME/ In the first quarter of this year, total revenue and grants of the General Government Budget (GGB) amounted to MNT 1,048.8 billion, and total expenditure and net lending--to 1,104.8 bln.tog, representing a deficit of MNT 56.0 billion in the equilibrated balance of the GGB. A current revenue of the GGB amounted to MNT 1,045.3 billion and current expenditure reached MNT 862.5 billion. The budget equilibrated current balance was in surplus of MNT 182.8 billion. Against the previous year, tax revenue increased by MNT 136.7 billion or 17.1 per cent due to the increases of MNT 79.0 billion or 30.3 per cent in taxes on goods and services, MNT 36.7 billion or 38.1 per cent in social security contribution, MNT 14.3 billion or 6.9 per cent in income tax, and MNT 10.4 billion or 17.0 per cent in taxes on foreign trade. There was a decrease of MNT 4.7 billion or 2.7 per cent in other taxes. Non-tax revenue increased by MNT 5.8 billion or 5.7 percent due to the increases of MNT 7.6 billion or 2.3 times in revenues from others, MNT 4.3 billion or 61.2 per cent--from oil petroleum, MNT 2.4 billion or 30.2 per cent--from interest, and MNT 1.4 billion or 16.2 per cent--from navigation fee. There was a decrease of MNT 5.3 billion or 9.1 per cent in revenues from budget entities and of MNT 4.8 billion or 32.1 per cent--from dividends. Total expenditure and net lending of the GGB increased by MNT 283.3 billion or 34.5 per cent to MNT 1,104.8 billion against the previous year due to increases of MNT 144.3 billion or 3.0 times in capital expenditure, MNT 77.5 billion or 25.1 per cent in expenditure of goods and services, MNT 37.9 billion or 9.1 per cent in subsidies and transfers, MNT 16.4 billion or 3.0 times in lending minus repayments, and MNT 7.4 billion or 55.3 per cent in interest payments. Spending of MNT 217.8 billion on capital expenditure increased by MNT 144.3 billion or 3.0 times against the previous year due to increases of MNT 135.9 billion or 2.9 times in capital expenditure of domestic sources, and MNT 8.4 billion or 5.0 times in foreign financed capital expenditure against the previous year. B.Khuder

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