Monthly Plan of the State Budget of Ukraine was Executed by 129.3% (+ UAH 23.7 billion)

According to the preliminary data of the State Treasury Service of Ukraine, in February 2022, the general fund of the state budget received UAH 104.6 billion. The monthly plan was executed by 129.3% (+ UAH 23.7 billion).

Receipts, the payment of which to the budget is controlled by the State Tax Service, amounted to UAH 48.6 billion, the plan was executed by 110.1% (+ UAH 4.4 billion), including:

• personal income tax and military fee - UAH 12.6 billion;
• corporate profit tax - UAH 8.3 billion;
• fee for the use of mineral resources - UAH 6.3 billion;
• excise tax on goods produced in Ukraine - UAH 4.3 billion;
• value-added tax - UAH 12.3 billion (UAH 24.4 billion collected, UAH 12.1 billion reimbursed).

Customs payments to the general fund of the state budget in February amounted to UAH 34.9 billion. The plan, additionally increased by UAH 2.2 billion during the month to finance the urgent needs of the Armed Forces of Ukraine, was executed by 102.3% (+ UAH 0.8 billion). From the total receipts, UAH 32.5 billion was received in the form of value-added tax, import duties amounted to UAH 2.3 billion.

Receipts of a single fee on obligatory national social insurance in the Pension Fund and Social Insurance Funds in February of 2022 amounted to UAH 34.0 billion, which is UAH 4.8 billion more than the planned performance of the State Tax Service for the relevant period. 

With the start of hostilities on February 24, 2022 between the Russian Federation and Ukraine, funding from the state budget is provided in full and exclusively for the needs of the Armed Forces of Ukraine and social payments (benefits, salaries, pensions). According to the preliminary data of the State Treasury Service for the first two months of 2022, the expenditures of the general fund of the state budget amounted to UAH 172.0 billion or 80.4% of the budget plan for this period.

The state budget of Ukraine for the first two months was executed with a surplus of UAH 24 billion, including the general fund - with a surplus of UAH 13.1 billion (vs UAH 66.2 billion deficit planned for January-February 2022).

Actual state borrowings to the general fund of the state budget for January-February 2022 amounted to UAH 17.9 billion.

UAH 16.6 billion, including UAH 4.8 billion in foreign currency (USD 159.8 million and Euro 7.1 million) was attracted for the financing of the state budget from the placement of domestic government bonds.

UAH 1.3 billion was attracted from external sources, including:

- UAH 0.1 billion (USD 3.5 million) from the IBRD loan within the framework of the project "Acceleration of Investment in Agriculture of Ukraine" (8973-UA dated August 27, 2019).

- UAH 1.2 billion (USD 40.0 million) from the IBRD loan within the framework of the project “Second additional financing aimed at overcoming the consequences of the COVID-19 pandemic” (9196-UA dated December 14, 2020).

Furthermore, public debt repayments for January-February 2022 totaled UAH 76.4 billion, debt service payments amounted to UAH 24.5 billion.