PRELIMINARY RESULTS OF GGB
Ulaanbaatar, Mongolia /MONTSAME/ Preliminary results of 2011 show that total revenue and grants of the General Government Budget (GGB) amounted to MNT 4,400.6 billion of which a stabilization fund amounted to 241.0 billion, a total equilibrated revenue and grants--to 4,159.6, and a total expenditure and net lending--to 4,792.0 billion, representing a deficit of MNT 632.4 billion in the equilibrated balance of GGB.
The GGB's current revenue stood at MNT 4,141.3 billion, and current expenditure reached MNT 3,234.4 billion. Thus, the budget equilibrated current balance was in surplus of MNT 906.9 billion.
Compared to the previous year, tax revenue increased by MNT 948.6 billion or 35.3 per cent due to the increases of MNT 563.2 billion or 65.1 per cent in taxes on goods and services, MNT 262.2 billion or 84.7 per cent in other taxes, MNT 154.4 billion or 39.5 per cent in corporate income tax, MNT 144.1 billion or 74.5 per cent in taxes on foreign trade, MNT 119.1 billion or 36.0 per cent in social security contribution, MNT 69.7 billion or 43.3 per cent in personal income tax, although there was decreases of MNT 367.3 billion or 86.8 per cent in price increase tax of some products.
Against the previous year, non-tax revenue increased MNT 114.4 billion or 29.3 per cent due to the increases of MNT 33.4 billion or 60.5 per cent in revenues from dividends, MNT 22.1 billion or 13.5 per cent in revenues from budget entities, MNT 21.4 billion or 59.2 per cent in revenues from interest and fines, MNT 21.2 billion or 38.7 per cent in revenues from oil petroleum, MNT 12.8 billion or 26.8 per cent in revenues from others, and MNT 3.5 billion or 11.1 per cent in revenues from navigation fee.
Total expenditure and net lending of the GGB increased by MNT 1,711.3 billion or 55.6 per cent to MNT 4,792.0 billion against the previous year. This was mainly due to increases by MNT 621.4 billion or 59.3 per cent in subsidies and transfers, MNT 476.1 billion or 80.6 per cent in capital expenditure, MNT 361.8 billion or 31.0 per cent in expenditure of goods and services, MNT 257.1 billion or 2.1 times in lending minus repayments, although there was decreases of MNT 5.0 billion or 11.8 per cent in interest payment.
Spending of MNT 1,067.2 billion on capital expenditure was higher by 476.1 billion or 80.6 per cent against the previous year. This increase was due to the increases of MNT 454.1 billion or 80.9 per cent in capital expenditure of domestic sources and MNT 22.0 billion or 74.9 per cent in foreign financed capital expenditure.
B.Khuder
The GGB's current revenue stood at MNT 4,141.3 billion, and current expenditure reached MNT 3,234.4 billion. Thus, the budget equilibrated current balance was in surplus of MNT 906.9 billion.
Compared to the previous year, tax revenue increased by MNT 948.6 billion or 35.3 per cent due to the increases of MNT 563.2 billion or 65.1 per cent in taxes on goods and services, MNT 262.2 billion or 84.7 per cent in other taxes, MNT 154.4 billion or 39.5 per cent in corporate income tax, MNT 144.1 billion or 74.5 per cent in taxes on foreign trade, MNT 119.1 billion or 36.0 per cent in social security contribution, MNT 69.7 billion or 43.3 per cent in personal income tax, although there was decreases of MNT 367.3 billion or 86.8 per cent in price increase tax of some products.
Against the previous year, non-tax revenue increased MNT 114.4 billion or 29.3 per cent due to the increases of MNT 33.4 billion or 60.5 per cent in revenues from dividends, MNT 22.1 billion or 13.5 per cent in revenues from budget entities, MNT 21.4 billion or 59.2 per cent in revenues from interest and fines, MNT 21.2 billion or 38.7 per cent in revenues from oil petroleum, MNT 12.8 billion or 26.8 per cent in revenues from others, and MNT 3.5 billion or 11.1 per cent in revenues from navigation fee.
Total expenditure and net lending of the GGB increased by MNT 1,711.3 billion or 55.6 per cent to MNT 4,792.0 billion against the previous year. This was mainly due to increases by MNT 621.4 billion or 59.3 per cent in subsidies and transfers, MNT 476.1 billion or 80.6 per cent in capital expenditure, MNT 361.8 billion or 31.0 per cent in expenditure of goods and services, MNT 257.1 billion or 2.1 times in lending minus repayments, although there was decreases of MNT 5.0 billion or 11.8 per cent in interest payment.
Spending of MNT 1,067.2 billion on capital expenditure was higher by 476.1 billion or 80.6 per cent against the previous year. This increase was due to the increases of MNT 454.1 billion or 80.9 per cent in capital expenditure of domestic sources and MNT 22.0 billion or 74.9 per cent in foreign financed capital expenditure.
B.Khuder
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