State budget deficit in Ukraine up 1.4-fold y/y to UAH 35.2bn (USD 4.4bn) in Jan-Sep.

By bne IntelliNews November 1, 2013

In Jan-Sep, the state budget deficit in Ukraine rose 1.4-fold y/y to UAH 35.2bn (USD 4.4bn), compared to UAH 24.4bn seen in Jan-Sep 2012, the FinMin has announced. Consolidated budget deficit reached UAH 33.8bn. In Jan-Sep, the total revenues of consolidated state budget stood at UAH 325.9bn. The revenues of state budget reached UAH 250.74bn in the reporting period.

The largest contribution to state budget had:

  • VAT-UAH 135.96bn
  • Income tax-UAH 41.17bn
  • Excise tax-UAH 19.13bn
  • Fee for use of mineral resources-UAH 9.5bn
  • Import duty-UAH 8.2bn

Own revenues of budgetary institutions in Jan-Sep amounted to UAH 21.47bn.

In Jan-Sep, the State Property Fund transferred UAH 915.317mn to the state budget from privatization of the state property. The 2013 state budget's receipts from privatization are anticipated at UAH 10.9 bn. Thus, the Jan-Sep proceeds make 8.4% of the sum.

In addition, the SPF has channeled UAH 787.752mn to the national budget in revenue from lease of state property in the reporting period. In 2013, UAH 835mn of revenue from lease of state property is supposed to be transferred to the national budget.

Moreover, in Jan-Sep, the SPF has transferred UAH 787.752mn to the national budget in revenue from lease of state property. In 2013, UAH 835mn of revenue from lease of state property is supposed to be transferred to the national budget.

The law on the state budget for 2013 sets its revenues at UAH 370.05bn, in particular those in the general fund - UAH 322.08bn, expenses - UAH 419.33bn and UAH 370.48bn respectively. The deficit is estimated at up to UAH 50.59bn, in particular that of the general fund - UAH 44.53bn.

Ukraine's state budget for 2013 could be revised following its fulfillment in Jan-Sep, announced FinMin. According to FinMin’s official, Halyna Pakhachuk, the changes will be made only in case of necessity. At the same time, she recalled that the provisions of the Budget Code envisage state budget cutting amid the absence of proper revenues. She said that the revision of state budget figures after the nine months of the year was expedient, since many expert institutes currently have different macroeconomic forecasts.

Indicators, UAH bn 2011 Q1/12 H1/12 2012 Q1 H1/13 Jan-Jul Jan-Aug Jan-Sep
Revenues   314.6 77.2 163.0 346.0 83.8 162.7 189.9 217.8 250.7
Expenditures 333.5 76.0 168.1 395.7 87.9 185.4 219.9 252.1 285.3
Balance*   -45.6 1.0 -6.7 -53.3 -4.5 -22.8 -30.3 -34.8 -35.2
*Balance includes budget crediting              

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