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Dividends of state-owned enterprises accounted for every fifth hryvnia of the State Budget's general fund revenues in June

05 July 2024

According to the State Treasury Service of Ukraine, in June 2024, the general fund of the State Budget received UAH 138,0 billion.

Among the payments controlled by the tax and customs authorities, the main revenues were received from:

  • UAH 37.1 billion in value added tax on goods imported into the customs territory of Ukraine;

  • UAH 29.1 billion in dividends and part of net profit;

  • UAH 19.6 billion - value added tax on goods produced in Ukraine  (UAH 32.4 billion collected, UAH 12,8 billion refunded);

  • UAH 18.0 billion - personal income tax and military duty;

  • UAH 17.3 billion - excise tax;

  • UAH 5.5 billion - corporate income tax;

  • UAH 3.7 billion - import and export duties;

  • UAH 3.4 billion - fee for the use of mineral resources;

At the same time, the State Tax Service performed 112,1% of the monthly revenue plan, and the State Customs Service - 99.2%.

In total, as of June 2024, the general and special funds of the State Budget received UAH 240,6 billion in taxes, fees and other payments.

January-June 2024

According to the State Treasury Service of Ukraine, in January-June 2024, the general fund of the State Budget received UAH 913.4 billion.

Among the payments controlled by the tax and customs authorities, the main revenues were received from:

  • UAH 223.9 billion in value added tax on goods imported into the customs territory of Ukraine;

  • UAH 147.6 billion –  corporate income tax;

  • UAH 132.1 billion – value added tax on goods produced in Ukraine  (UAH 202.2 billion collected, UAH 70.1 billion refunded);

  • UAH 97.1 billion - personal income tax and military duty;

  • UAH 91.1 billion - excise tax; 

  • UAH 64.2 billion – dividends from state-owned enterprises;

  • UAH 23.8 billion - import and export duties;

  • UAH 23.4 billion - fee for the use of mineral resources.

In January-June, the State Tax Service performed 111.4% of its revenue plan and the State Customs Service 107.4%.

Along with the National Bank of Ukraine, which allocated UAH 38.6 billion of its profit to the State Budget in May this year, another important source of State Budget revenues was the funds received by Ukraine in the form of international assistance (grants) - UAH 40.3 billion.

The unified social tax revenues to the Pension Fund and social insurance funds in January-June amounted to UAH 256,1 billion, of which UAH 48.0 billion was received in May.

In total, in January-June 2024, the general and special funds of the State Budget received UAH 1,315.5 billion in taxes, fees and other payments. In January-May 2024, the expenditures of the State Budget amounted to UAH 1,933.4 billion, including UAH 1,543.7 billion of the general fund. 

Actual public borrowings to the general fund of the State Budget in January-June 2024 amounted to UAH 746.9 billion.

UAH 242.4 billion, including UAH 72.92 billion in foreign currency (USD 1,149.5 million and EUR 665.7 million) was attracted for the financing of the State Budget from the placement of domestic government bonds.

At the same time, UAH 164.2 billion was raised through the placement of War Bonds.

In particular, UAH 504.5 billion (or about USD 12.8 billion) was received from external sources:

  • UAH 335.4 billion (EUR 7.89 billion) - EU loan under the Bridge Financing and Pre-financing mechanisms ;

  • UAH 57.6 billion (SDR 1.1 billion) from the Government of Canada;

  • UAH 54.93 billion (USD 1.4 billion) IBRD Growth Foundations Development Policy Loan through the World Bank mechanism.

  • UAH 34.6 billion (SDR 663.9 million) of IMF financing is the fourth tranche under the Extended Fund Facility (EFF) Arrangement;

  • UAH 11.25 billion (USD 297.0 million) IBRD loan as part of the financing of the World Bank’s Investing in Social Protection for Inclusion, Resilience and Efficiency (INSPIRE) project.

  • UAH 8.9 billion (SDR 229.4 million) from the IBRD loan under the Ukraine Agriculture Recovery Inclusive Support Emergency project (ARISE);

  • UAH 0,79 billion (USD 20,0 million) IBRD loan through the “Social Safety Nets Modernisation Project”;

  • UAH 0.12 billion (EUR 3.0 million) – IBRD loan through the project Health Enhancement And Lifesaving (HEAL Ukraine).

  • UAH 0,12 billion (USD 3,0 million) – IBRD loan through the Serving People, Improving Health Project.

At the same time, public debt repayments in January-June 2024 amounted to UAH 259.1 billion (92.6% of the plan), and service payments - UAH 132.8 billion (88.1 % of the plan). 

The funds raised from the placement of domestic government bonds in January-June 2024 allowed to fully cover the need for funds required to make payments on the repayment of domestic government bonds.

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