GENERAL GOVERNMENT BUDGET AMOUNTED 3,474.3 BILLION TOGROG

Ulaanbaatar, Mongolia /MONTSAME/ In the first 10 months of 2011, total revenue and grants of the General Government Budget amounted to 3,474.3 billion togrog and total expenditure and net lending amounted to 3,284.6 billion togrog, representing surplus of 189.7 billion togrog in the General Government Budget overall balance. In the same period of previous year, the overall balance was in surplus of 47.1 billion togrog. In the first 10 months of 2011, General Government Budget overall balance surplus was mainly due to the revenue growth pace exceeded the expenditure growth by 5.3 percentage points. Current revenue of the General Government Budget amounted of 3394.3 billion togrog and current expenditure reached 2484.8 billion togrog. Thus, the budget current balance was in surplus of 909.5 billion togrog. Compared to the same period of the previous year, tax revenue increased by 964.7 billion togrog or 46.7 percent. The increase was mainly due to the increases of 494.6 billion togrog or 73.6 percent in taxes on goods and services, 303.9 billion togrog or 2.3 times in other taxes, 128.0 billion togrog or 41.0 percent in corporate income tax, 126.4 billion togrog or 84.2 percent in taxes on foreign trade, 120.5 billion togrog or 49.2 percent in social security contribution, although there was decreases of 267.4 billion togrog or 82.7 percent in price increase tax of some products. Compared to the same period of the previous year, non-tax revenue increased by 120.7 billion togrog or 49.9 percent. The increase was mainly due to the increases of 63.5 billion togrog or 62.4 percent in revenues from budget entities, 28.4 billion togrog or 3.4 times in revenues from dividends, 14.3 billion togrog or 66.6 percent in revenues from interest and fines, and 10.7 billion togrog or 28.5 percent in revenues from oil petroleum. In the first 10 months of 2011, total expenditure and net lending of the General Government Budget increased by 983.4 billion togrog or 42.7 percent to 3284.6 billion togrog compared to the same period the previous year. This was mainly due to increases of 556.7 billion togrog or 70.3 percent in subsidies and transfers, 233.3 billion togrog or 26.8 percent in expenditure of goods and services, 169.8 billion togrog or 44.4 percent in capital expenditure, 30.6 billion togrog or 14.1 percent in lending minus repayments, although there was decreases of 7.0 billion togrog or 18.2 percent in interest payment. Spending of 552.2 billion togrog on capital expenditure in the first 10 months of 2011, was higher by 169.8 billion togrog or 44.4 percent compared to the same period of the previous year. The increase in capital expenditure was due to the increases of 138.1 billion togrog or 37.1 percent in capital expenditure of domestic sources and 31.8 billion togrog or 4.0 times in foreign financed capital expenditure. B.Oyundelger