The total equilibrated revenue of the General Government Budget in 2019 has increased by MNT 2.4 trillion from the approved budget in 2018. The Ministry of Finance estimated that the tax revenue will be accounted for 88.7 percent in the total equilibrated revenue.

Tax revenue growth will be mainly affected by increase of 27% in value added tax, 23.5% in income tax. The criticism that the budget revenue is too optimistic is predominant among Bloomberg Economists Club experts.

Also, the economic growth is expected to be eight percent, which is higher than the estimates of the Asian Development Bank, the World Bank and the Bank of Mongolia. Economists emphasize that the budget revenue might drop as a result of decrease in coal and copper price, customs clearance and CIT tax revenues.

Approximately 30 percent of the budget revenue will be generated by the mining sector. For instance, the MNT 3 trillion budget revenue will be generated by export of 42 million tons of coal and 1.4 million tons of copper. The Minister of Finance has said that the Ministry will take actions to improve the control on six ports. Also, a package of tax laws will be discussed at the Parliamentary Autumn Session. The Ministry of Finance estimates that legal reform will increase tax income.

Эх сурвалж: BloombergTv.mn