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State Budget-2021: UAH 984.3 billion was Transferred to the General Fund of State Budget in January-November 2021

01 December 2021

According to the preliminary data of the State Treasury Service of Ukraine, in November 2021, the general fund of the state budget received UAH 122.2 billion. The monthly plan was executed by 110.2% (+ UAH 11.3 billion).

The revenues of the State Tax Service amounted to UAH 76.6 billion or 109.8% of the November plan (+ UAH 6.8 billion), including:

  • personal income tax and military fee: UAH 12.0 billion;
  • corporate profit tax: UAH 35.7 billion;
  • fee for the use of mineral resources: UAH 6.6 billion;
  • excise tax on goods produced in Ukraine: UAH 6.8 billion;
  • value-added tax: UAH 12.1 billion (UAH 29.8 billion collected, UAH 17.7 billion reimbursed).

Customs payments to the general fund of the state budget amounted to UAH 42.2 billion or 113.2% of the November plan (+ UAH 4.9 billion). From the total receipts, UAH 39.5 billion was received in the form of value-added tax, import duties amounted to UAH 2.5 billion.

The general fund of the state budget in January-November 2021 received UAH 984.3 billion or 104.4% of the plan for the reporting period (+ UAH 41.6 billion). The revenues of the State Tax Service amounted to UAH 564.7 billion, the budget plan for January-November was executed by 105.6% (+ UAH 30.0 billion). The revenues of the State Customs Service amounted to UAH 363.9 billion, the performance was 103.9% (+ UAH 13.8 billion).

Receipts of a single fee on obligatory national social insurance in the Pension Fund and Social Insurance Funds in the 11 months of 2021 amounted to UAH 310.4 billion, which is UAH 7.9 billion more than the planned performance of the State Tax Service for the relevant period. Of this amount, UAH 29.8 billion was received in November.

According to the preliminary data of the State Treasury Service, in January-November 2021 the expenditures of the general fund of the state budget amounted to UAH 1048.1 billion or 93.5% 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-November 2021 the state budget was executed with a deficit of UAH 57.4 billion (vs UAH 175.7 billion planned for this period).

Actual state borrowings to the general fund of the state budget in January-November 2021 amounted to UAH 478.8 billion or 78.2% of the planned for this period.

UAH 313.2 billion, including UAH 85.6 billion in foreign currency (USD 2.5 billion and EUR 583.7 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 issueance with further purchase of additional issuance of shares of private joint-stock company "Ukrainian Financial Housing Company"). 


UAH 143.7 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 37.9 billion (SDR 1.0 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 0.4 billion (USD 15.0 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 36.2 million) for the IBRD loan proceeds under the project "Emergency Response to COVID-19 and Vaccination in Ukraine".

Public debt repayments for January-November 2021 totaled UAH 412.3 billion, debt service payments amounted to UAH 142.4 billion.
 

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