August statistics released

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        Every month, the National Statistics Office (NSO) presents the current statistics and data collected from various sectors. Recently, the data and information forAugust was disclosed to the public and the total presented news is stated here.

STATE BUDGET INCREASES BY 39.2%

According to the preliminary performance of the first eight months of 2023, the total revenue and aid amount of the state budget reached 15.2 trillion MNT, an increase of 39.2 percent from the same period previous year, and the amount of balanced income aid amounted to 14.6 trillion MNT, an increase of 45.7 percent.

The number of total expenditures and repayable net loans in the first eight months was 12.8 trillion MNT, and the balanced balance was 1.8 trillion MNT. The total revenue and aid of the state budget was 2.3 trillion MNT, 53 percent more than the previous month, and the balanced income and aid reached 2.2 trillion MNT, an increase of 64.5 percent. On the other hand, the total expenditure and the amount of repayable net loans amounted to 1.7 trillion MNT in August, and the balanced balance showed a profit of 458.1 billion MNT.

The total tax revenue reached 13.7 trillion MNT in the first eight months, an increase of 4.4 trillion MNT from the same period last year, because income tax increased revenue by 1.7 trillion MNT and mineral royalty tax by 1.4 trillion MNT. This was mainly due to the increase of insurance income by 537.8 billion MNT and value added tax by 472.4 billion MNT respectively. However, excise duty decreased by 80.8 billion MNT.

The total income of the Social Insurance Fund in the first eight months reached 2.6 trillion MNT, with total expenditures increasing to 2.5 trillion MNT.

The income of the Health Insurance Fund in the same period was 1 trillion MNT, with exceeding expenditure of 1.1 trillion MNT, which was a decrease of 15 percent. The decrease in expenditure was caused by decrease in transfer expenses by the government.

NATIONAL CURRENCY SAVINGS REACH 14.5 TRILLION MNT

Money supply (M2) by the end of August was 32.6 trillion MNT, increasing by 5.7 trillion MNT from the same period of the previous year. MNT savings increased by 1.6 trillion MNT. Small money (M1) decreased to 8 trillion MNT from the previous month. Of M1 money supply, almost 90 percent is foreign currency, with rest outside the savings institutions. Cash issued in the economy reached 1.1 trillion MNT, increasing by 8.7 percent from same time of last year. billion MNT from the same period last year.

MNT savings account reached 14.5 trillion MNT, increasing by 12.5 percent from last year. Of the MNT savings, 88.6 percent is of citizens, and the rest is of companies and organizations. Foreign currency savings account reach 5.2 trillion MNT. The balance of the total loan debt granted to enterprises, organizations and citizens reached 25.8 trillion MNT, which increased by 464.2 billion MNT from the previous month. Of the balance, 56.1 percent are citizens, 42.8 percent are private organizations, 0.6 percent are government organizations, and 0.5 percent are financial and other organizations.

At the end of August, the balance of ordinary loans amounted to 22.2 trillion MNT, an increase of 436.2 billion MNT from the previous month. The balance of ordinary loans accounts for 86 percent of the total loan balance.

The balance of the outstanding loan debt reached 1.4 trillion, which increased by 195.8 billion MNT from the same period of the previous year. The balance of outstanding loans accounts for 5.4 percent of the total outstanding loans. The balance of non-performing loans amounted to 2.2 trillion MNT at the end of August, which decreased by 5.5 billion MNT from the previous month. Non-performing loans account for 8.6 percent of the total loan balance.

The monthly average exchange rate of the MNT against the USD announced by the Mongol Bank was 3469 MNT in August 2023, an increase of 284 MNT from the same period last year, and 27.62 MNT weaker than the previous month. It weakened by 10.09 MNT and increased by 0.22 MNT from the previous month. The monthly average exchange rate of MNT against the RUB announced by the Mongol Bank was 36.36 MNT in August 2023, which is 16.25 MNT different from the same period last year, and 1.6 MNT different from the previous month.

APARTMENT PRICE GROWS BY 7.1%

The price of apartments in Ulaanbaatar increased by 7.1 percent from the same period of previous year and 1.3 percent from the previous month. In August 2023, the average price per square meter of a new apartment was 3.72 million MNT, and the highest price is 4.01 million MNT in Khan-Uul District and lowest at 2.79 million MNT in Songinokhairkhan District. On the other hand, the average price of old apartments per square meter is 3.38 million MNT with Songinokhairkhan District as lowest and the highest price is 4.12 million MNT in Chingeltei District.

PRODUCER PRICES IN INDUSTRIAL SECTOR INCREASES BY 4.2%

The producer price index of the industrial sector reached 231.3 in August 2023 and the producer price increased by 12.1 percent from the same period last year and 4.2 percent from the previous month.

Producer prices in the industrial sector increased by 12.1 percent in August compared to the same period last year due to increase in mining and other auxiliary mining activities by 26.8 percent, metal ore mining by 18.7 percent, other mineral mining by 14.9 percent, and oil mining by 4.3 percent.

The producer price of the industrial sector increased by 12.1 percentage points compared to the same period last year, while the mining and quarrying sector was affected by nine percent.

PRICE OF FULL-GROWN MALE SHEEP RATED HIGHEST AT 280,000 MNT IN ULAANBAATAR

Compared to the same period of the previous year, the average price of livestock at a market was 1.4 million MNT, increasing by 3,100 MNT. Prices of cow was highest from 1.2 million to 1.4 million MNT depending on age, with prices of male sheep and goat increasing the least by 6,400 MNT and 100 MNT respectively. In August, the price of one kg of white cashmere was the highest in Ulaanbaatar, or 125,000 MNT, and the lowest in Bulgan and Khuvsgul Province at 80,000 MNT.

Amarjargal Munkhbat

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