TOTAL REVENUE OF GENERAL BUDGET INCREASED BY 64.7 PERCENT COMPARED TO SAME PERIOD OF PREVIOUS YEAR

According to the preliminary results in the first 7 months of 2021, the total revenue of the general government budget was MNT 8.7 trillion, increased by MNT 3.4 trillion or 64.7% compared to the same period of the previous year. On the other hand, the total expenditure and net lending was MNT 8.5 trillion in the first 7 months of 2021, resulting in deficit of MNT 830.6 billion decreased by MNT 1.6 trillion or 66.3% compared to the same period of previous year.

In July 2021, the total equilibrated revenue and grants of general government budget was MNT 1.2 trillion, increased by MNT 107.4 billion or 9.6% compared to the previous month. The total expenditure and net lending were MNT 1.0 trillion, decreased by MNT 334.6 billion or 25.2% compared to the previous month.

In the first 7 months of 2021, stabilization fund revenue increased by 3.1 percentage points, non-tax revenue increased by 2.9 percentage points and the future heritage fund revenue increased by 1.6 percentage points while tax revenue decreased by 7.6 percentage points compared to the same period of previous year.

In the first 7 months of 2021, tax revenue reached MNT 6.7 trillion, increased by MNT 2.2 trillion or 50.0% compared to the same period of previous year. This increase was mainly due to MNT 1.2 trillion or 2.0 times increase in income tax revenue, MNT 415.6 billion or 36.9% increase in value added tax revenue, MNT 275.0 billion or 30.5% increase in social security revenue, MNT 176.0 billion or 46.4% increase in other taxes revenue, MNT 120.2 billion or 30.1% increase in foreign activity revenue and MNT 44.5 billion or 10.3% increase in excise tax revenue.

In the first 7 months of 2021, general government budget expenditure and net lending was MNT 8.5 trillion, increased by MNT 1.1 trillion or 14.9% compared to the same period of previous year.

Source: https://www.montsame.mn/en/read/272630