Tax revenue reaches MNT 8.2 trillion with 30 percent increase

Ulaanbaatar /MONTSAME/ At the end of the 2018, total equilibrated revenue and grants of the General Government Budget reached MNT 9.2 trillion and total expenditure and net lending amounted to MNT 9.2 trillion. Tax revenue reached MNT 8.2 trillion, increased by MNT 1.9 trillion or 30 percent compared to the same period of the previous year. This growth was mainly affected by increases of value added tax, income tax, social security income, excise taxes, revenue from foreign activities and other taxes. The General Government revenue were comprised of 81.5 percent of tax revenue, 10.2 percent of non-tax revenue, 6.2 percent of the future heritage fund and 2.1 percent of stabilization fund. Total expenditure and net lending of the General Government increased by MNT 205.6 billion or 2.3 percent at the end of the 2018, compared to the same period of the previous year. This growth was affected by increases of 4.3 percent in current expenditure, even though there were decreases of interest expenditure, 12.5 percent in subsidies, 3 percent in capital expenditure and 15.5 percent in net lending compared to the same period of the previous year. The General Government expenditure and net lending were comprised of 79.7 percent of current expenditure, 17.4 percent of capital expenditure and 2.9 percent of net lending.