Ukraine’s budget deficit up 78.7% y/y to UAH 30.3bn (USD 3.8bn) in Jan-Jul.

By bne IntelliNews September 1, 2013

In Jan-Jul, the deficit of Ukraine’s state budget rose by 78.7% y/y to UAH 30.3bn (USD 3.8bn) vs. UAH 16.9bn recorded in Jan-Jul 2012, the FinMin has announced. The consolidated budget deficit increased by 81.4% y/y to UAH 34.2bn. The deficit of the general fund of state budget reached UAH 31.4bn. The total revenues of state budget grew by 1.8% y/y to UAH 189.8bn.

The largest contribution to state budget had:

  • VAT-UAH 105bn
  • Income tax-UAH 34.6bn
  • Excise tax-UAH 15.1bn
  • Fee for use of mineral resources-UAH 7.1bn
  • Import duty-UAH 6.2bn

Own revenues of budgetary institutions in Jan-Jul amounted to UAH 13.8bn.
The total amount of cash expenditures of the state budget of Ukraine for seven months of 2013 rose by 9.6% - to UAH 219.9bn.

In H1, the state budget revenues declined by 0.2% y/y to UAH 162.65bn (USD 20.33bn), the FinMin has reported. The general fund of the state budget received UAH 142.4bn, up by 0.8% y/y, while special fund got UAH 20.29bn, down by 6.3% y/y.

The 2013 state budget foresees revenues of UAH 362.83bn and expenditures of UAH 412.06bn.

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.

State budget, UAH bn 2011 Jan-12 Jan-Feb Q1 Jan-May H1 Jan-Jul
Revenues   314.6 21.7 51.8 77.2 133.4 163.0 189.9
Expenditures 333.5 20.1 46.9 76 135.6 168.1 219.9
Balance*   -45.6 1.5 4.7 1.0 -3.7 -6.7 -30.3
*Balance includes budget crediting              
Source: FinMin              

 

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