State Budget-2021: In January-May General Fund of State Budget received UAH 421 billion or 104.5% of the Plan

According to preliminary data of the State Treasury Service, in May 2021, the general fund of the state budget received UAH 107.2 billion. The monthly plan, which was increased due to the latest amendments to the Law on State Budget 2021, was executed by 102.7% (+UAH 2.8 billion).

The general fund of the state budget for the first five months of 2021 received UAH 421.0 billion or 104.5% of the budget plan for the reporting period (+UAH 18.3 billion). The state budget revenues of the State Tax Service amounted to UAH 240.2 billion - the performance was 106.3% (+ UAH 14.1 bn). The revenues from the State Tax Service amounted to UAH 143.3 billion, the performance was 103.8% (+UAH 5.3 billion).

In May 2021 the state budget revenues from the State Tax Service amounted to UAH 75.0 billion or 104.8% of the plan in May (+UAH 3.5 billion), including:

• personal income tax and military fee - UAH 10.2 billion;
• corporate profit tax - UAH 29.8 billion;
• fee for the use of mineral resources - UAH 4.8 billion;
• excise tax on goods produced in Ukraine - UAH 5.4 billion;
• value-added tax  - UAH 10.7 billion (UAH 23.6 billion, reimbursed UAH 12.9 billion)

Receipts of corporate profit tax exceeded the planned ones both in May (+UAH 2.5 billion) and since the beginning of the year (+UAH 4.7 billion).

The revenues of the general fund of the state budget from customs payments amounted to UAH 29.5 billion or 100.3% of April (+UAH 0.1 billion). From the total amount of revenues, UAH 27.3 billion was received in the form of value-added tax, UAH 2.0 billion - import duties.

The proceeds from social security tax paid to the Pension Fund and Social Security Fund in January-May 2021 amounted to UAH 132.8 billion, which overperformed the State Pension Fund's plan for the relevant period by UAH 4.7 billion. Of this amount, UAH 26.3 billion was received in May (+UAH 0.3 billion to the expected).

According to preliminary data of the State Treasury Service in January-May 2021, the expenditures for the general fund of the state budget amounted to UAH 454.7 billion, or 92.6% of the plan for this period. Financing of social expenditures, defense expenditures, debt service expenditures, and subventions and grants to local budgets was carried out in full following the budget plan based on payment orders.

In January-May 2021 the state budget was executed with a deficit of UAH 32.5 billion, including the general fund with a deficit of UAH 31.3 billion (comparing with UAH 86.5 billion planned for this period).

Actual state borrowings to the general fund of the state budget in January-May 2021 amounted to UAH 192.5 billion, or 73.4% of the planned for this period.

From the placement of domestic government bonds UAH 156.0 billion was raised to the state budget, including in foreign currency, UAH 40.0 billion (USD 1.0 billion and EUR 349.2 million) was attracted.

 UAH 36.5 billion was attracted from external sources, including:

• UAH 34.7 billion (USD 1.25 billion) through the placement of 8-year Eurobond with a yield of 6.875%;
• 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 1.1 billion (USD 40.0 million) from IBRD loan within the framework of the project "Second additional financing to overcome the consequences of the COVID-19 pandemic";
• UAH 0.1 billion (USD 5.0 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 0.1 billion (USD 3.6 million) receipt of IBRD within the program "Additional financing of the project" Improvement of public health services in the service of people".

In January-May 2021 state debt principal payments amounted to UAH 170.5 billion, while state debt service payments amounted to UAH 64.4 billion.

In May of this year, Ukraine made its first payment on GDP-linked Securities in the amount of U.S.$40,750,645.60.