GENERAL GOV'T BUDGET SHOWS DEFICIT

Ulaanbaatar /MONTSAME/ In the first 11 months of 2012, total equilibrated revenue and grants of the General Government Budget (GGB) amounted to MNT 4,322.0 billion and total expenditure and net lending amounted to MNT 5,028.8 billion, representing deficit of MNT 706.7 billion in the GGB's equilibrated balance. Current revenue of the GGB amounted to MNT 4,283.4 billion and current expenditure reached MNT 3,828.8 billion, thus the budget equilibrated current balance was in surplus of MNT 454.6 billion. Tax revenue increased by MNT 536.7 billion or 16.3 per cent against the previous year. The increase was mainly due to the increases of MNT 214.4 billion or 54.8 per cent in social security contribution, MNT 188.2 billion or 14.7 per cent in taxes on goods and services, MNT 94.8 billion or 16.6 per cent in other taxes and MNT 30.9 billion or 4.2 per cent in income tax. Non-tax revenue increased MNT 41.5 billion or 10.2 per cent, mainly due to the increases of MNT 23.6 billion or 38.3 per cent in revenues from oil petroleum, MNT 17.1 billion or 42.8 per cent in revenues from interest, MNT 6.8 billion or 15.8 per cent in revenues from others, and MNT 2.1 billion or 5.4 per cent in navigation fee. However, there were decreases of MNT 6.2 billion or 3.5 per cent in revenues from budget entities and MNT 2.6 billion or 6.4 per cent in revenues from dividends. The GGB's total expenditure and net lending increased by MNT 1,215.5 billion or 31.9 per cent to MNT 5,028.8 billion against the previous year. This was mainly due to increases of MNT 532.1 billion or 42.3 per cent in expenditure of goods and services, MNT 445.0 billion or 30.0 per cent in subsidies and transfers, MNT 406.3 billion or 54.3 per cent in capital expenditure, MNT 75.2 billion or 3.2 times in interest payments. There was a decrease of MNT 243.1 billion or 84.5 per cent in lending minus repayments. Spending of MNT 1,155.3 billion on capital expenditure increased by MNT 406.3 billion or 54.3 per cent against the previous year. This was mainly due to increases of MNT 398.3 billion or 56.7 per cent in capital expenditure of domestic sources and MNT 8.1 billion or 17.4 per cent in capital expenditure of foreign financed against the previous year. B.Khuder