GENERAL GOVERNMENT BUDGET IN STATISTICAL MIRROR Friday, Jun 13 2014 Written by Sugirragchaa Print Email

Ulaanbaatar /MONTSAME/ In the first four months of 2014, total equilibrated revenue and grants of the General Government Budget (GGB) amounted to 2,117.5 bln.tog. Total expenditure and net lending of the budget reached 2,284.5 bln.tog, representing a deficit of 106.9 bln.tog in the equilibrated balance of the GGB. Compared with the same period of the previous year, tax revenue increased 83.3 bln.tog or 4.6 percent. This increase was largely attributable to increases of 51.0 bln.tog or 16.5 percent in social security contributions, of 24.9 bln.tog or 3.6 percent in revenue from taxes on goods and services and of 16.0 bln.tog or 12.9 percent in revenue from taxes on foreign trade. However, there were decreases of 13.7 bln.tog or 3.2 percent in income taxes and of 25.3 bln.tog or 9.5 percent in revenue from corporate income tax. In the first 5 months of 2014, total expenditure and net lending of the GGB reached 2,284.5 bln.tog, increasing 412.4 bln.tog or 22.0 percent compared with the same period of the previous year. This increase was mainly due to rises of 123.6 bln.tog or 15.9 percent in subsidies and transfers, of 117.2 bln.tog or 13.4 percent in expenditure on goods and services, of 92.3 bln.tog or 53.1 percent in capital expenditure, and of 76.1 bln.tog or 2.7 times in interest payments.