State Budget-2021: UAH 1.084 trillion was Transferred to the General Fund of State Budget in January-December 202

According to the preliminary data of the State Treasury Service of Ukraine, in 2021, the general fund of the state budget received UAH 1.084 trillion. The plan was executed by 102.8% (+ UAH 30.0 billion).

The revenues of the State Tax Service amounted to UAH 614.4 billion or 103.1% of the year plan (+ UAH 18.4 billion), including:

• personal income tax and military fee: UAH 137.6 billion;
• corporate profit tax: UAH 147.8 billion;
• fee for the use of mineral resources: UAH 53.5 billion;
• excise tax on goods produced in Ukraine: UAH 68.7 billion;
• value-added tax: UAH 155.8 billion (UAH 315.5 billion collected, UAH 159.7 billion reimbursed).

Customs payments to the general fund of the state budget in 2021 amounted to UAH 409.3 billion or 103.2% (+ UAH 12.6 billion). From the total receipts, UAH 380.3 billion was received in the form of value-added tax, import duties amounted to UAH 26.6 billion.

Of this amount, UAH 99.9 billion (UAH 49.7 billion of tax payments and UAH 45.5 billion of customs duties) was received in the last month of 2021.

Receipts of a single fee on obligatory national social insurance in the Pension Fund and Social Insurance Funds of 2021 amounted to UAH 349 billion, which is UAH 10.7 billion more than the planned performance of the State Tax Service for the relevant period. Of this amount, UAH 38.6 billion was received in December.

According to the preliminary data of the State Treasury Service, in January-December 2021 the expenditures of the general fund of the state budget amounted to UAH 1,259.4 billion or 98.5% of the budget plan for this period. Financing of social expenditures, defense expenditures, debt service expenditures, and subventions and transfers to local budgets was carried out in full following the budget plan based on payment orders.

In January-December 2021 the state budget was executed with a deficit of UAH 168.4 billion (vs UAH 220.9 billion planned for this period).

Actual state borrowings to the general fund of the state budget in January-November 2021 amounted to UAH 602.8 billion or 86.2% of the planned for this period.

UAH 388.3 billion, including UAH 108.9 billion in foreign currency (USD 3.1 billion and EUR 778.1 million), was attracted for the financing of the state budget from the placement of domestic government bonds.

In addition, there was an issuance of domestic government bonds of UAH 1.8 billion with subsequent purchase into state ownership in exchange for bonds shares of the Export Credit Agency. The state issued domestic government bonds in the amount of UAH 20 billion in exchange for shares of "Ukrainian Financial Housing Company" (Resolution of the Cabinet of Ministers of Ukraine of 22.09.2021 No 982 "Some issues of local government bonds issuance with further purchase of additional issuance of shares of private joint-stock company "Ukrainian Financial Housing Company").

UAH 192.8 billion was attracted to the general fund of the state budget from external sources, including:

• UAH 48.2 billion (USD 1.75 billion) through the placement of an 8-year Eurobond with a yield of 6.876% and additional placement was priced at the yield of 6.3%.
• UAH 73.4 billion (SDR 1.9 billion) by receiving the proceeds of the Special Drawing Rights (SDR) general allocation approved by the Board of Governors of the International Monetary Fund on August 2, 2021.
• UAH 18.8 billion (SDR 0.5 bln) of the second tranche under the IMF Stand-by Arrangement.
• UAH 18.0 billion (EUR 588.7 million) of the proceeds of EU Macro-Financial Assistance.
• UAH 7.5 billion (EUR 250 million) of a loan from Cargill Financial Services International, Inc.
• UAH 0.8 billion (USD 30.0 million) from the IBRD loan within the framework of the project "Modernization of the Social Support System of Ukraine".
• UAH 1.5 billion (USD 55.0 million) from the IBRD loan within the framework of the project "Second additional financing to overcome the consequences of the COVID-19 pandemic".
• UAH 0.4 billion (USD 15.0 million) taking the IBRD loan within the framework of the project "Additional Financing for the Project "Modernization of the Social Support System of the Population of Ukraine".
• UAH 0.3 billion (USD 12.4 million) from the IBRD within the framework of the program "Additional Financing of the Project "Improving Public Health in the Service of People".
• UAH 9.6 billion (USD 350 million) of the IBRD loan proceeds for the "First Development policy loan" system project.
• UAH 1.0 billion (USD 37.6 million) for the IBRD loan proceeds under the project "Emergency Response to COVID-19 and Vaccination in Ukraine".
• UAH 0.4 billion (USD 14.5 million) receiving IBRD loan proceeds under the project "Accelerating Investment in Agriculture in Ukraine" (8973-UA of 27.08.2019).
• UAH 2.9 billion (USD 105 million) receiving IBRD loan proceeds as part of the Additional Financing for the project "Emergency Response to COVID-19 and Vaccination in Ukraine".
• UAH 9.2 billion (EUR 300 million) of IBRD loan proceeds for the systematic project "Second development policy loan in the sphere of economic recovery
• UAH 0.27 billion (USD 10 million) of IBRD loan proceeds under the project "Improvement of higher education in Ukraine for the sake of results".

Public debt repayments in January-December 2021 totaled UAH 441.1 billion, debt service payments amounted to UAH 150 billion.