General government budget revenue and grants reached MNT 26.1 trillion in the first nine months of this year, according to preliminary data, marking a 17.2% increase, or MNT 3.8 trillion, from the same period last year. Meanwhile, the budget’s balanced revenue and grants totaled MNT 22.9 trillion, up 10.6%, or MNT 2.2 trillion, year-on-year.

Tax revenue reached MNT 21.2 trillion, an increase of 11.4%, or MNT 2.2 trillion, compared with the same period last year. This growth was driven by increases in social insurance contributions of 17.3%, or MNT 687.7 billion; value-added tax (VAT) revenue of 15.8%, or MNT 695 billion; and income tax revenue of 9.5%, or MNT 557.6 billion. However, excise tax revenue fell by 8.7%, or MNT 66.8 billion, the National Statistics Office (NSO) reported.

During the period, income tax accounted for 30.4% of total tax revenue, followed by VAT at 24%, social insurance contributions at 22%, taxes on foreign trade and activities at 6.8%, excise taxes at 3.3%, and other taxes, fees, and charges at 13.6%. Corporate income tax accounted for 64.3% of income tax revenue, while personal income tax made up the remaining 35.7%.

General government budget expenditure and net lending totaled MNT 24.6 trillion in the first nine months, up 11.3%, or MNT 2.5 trillion, year-on-year. The increase was driven by higher spending on goods and services, which rose by 12.4%, or MNT 892.2 billion; capital expenditure, which increased by 17.5%, or MNT 720.7 billion; and current transfers, which grew by 9.4%, or MNT 825.2 billion.

According to Ariunbold Shagdar, Director General of the NSO’s Social Statistics Department, current transfers accounted for 39.2% of total expenditure, followed by goods and services at 33.1%, capital expenditure at 19.8%, interest payments at 5%, and subsidies at 2.9%.

Capital expenditure reached MNT 4.8 trillion in the first nine months, an increase of 17.5%, or MNT 720.7 billion, compared with the same period last year. This was mainly attributable to a 13.3%, or MNT 390.9 billion, increase in spending on buildings and facilities; a 31.2%, or MNT 102 billion, rise in equipment expenditure; a 17.7%, or MNT 38.5 billion, increase in major repairs; and a 24.4%, or MNT 154.8 billion, rise in other capital expenditure.

Published Date:2026-10-20