According to the preliminary results in the first four months of 2020, the total revenue of the general government budget amounted to MNT 2.9 trillion, of which MNT 2.7 trillion accounted for equilibrated revenue. Total equilibrated revenue was 93.4% of the general government budget revenue.
Total expenditure and net lending amounted to MNT 3.3 trillion, resulting in a deficit of MNT 643.5 billion in the equilibrated balance.
However, in April 2020, total revenue and grants of General Government Budget reached MNT 642.4 billion, decreased by MNT 117.8 billion or 15.5% and total expenditure and net lending amounted to MNT 970.5 billion, increased by MNT 109.9 billion or 12.8% compared to the previous month.
General Government budget revenue was comprised of 85.6% of tax revenue, 7.8% of non-tax revenue, 6.4% of the future heritage fund and 0.2% of the stabilization fund.
In the first four months of 2020, tax revenue reached MNT 2.5 trillion, decreased by MNT 404.5 billion or 14.2% compared to the same period of the previous year. This growth was mainly due to decreases of MNT 98.6 billion or 33.2% in other taxes revenue, MNT 64.1 billion or 23.1% in excise taxes revenue, MNT 59.9 billion or 10.0% in value-added taxes and MNT 42.2 billion or 6.9% in social security revenue while there was an increase of MNT 1.7 billion or 4.2% in property tax.
In the first quarter of 2020, general government budget expenditure and net lending increased by MNT 474.8 billion or 16.7% compared to the same period of the previous year, totaling up to MNT 3.3 trillion by preliminary results. This was primarily affected by an increase of MNT 464.2 billion or 18.7% in current expenditure and MNT 68.7 billion or 21.9% in capital expenditure.