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Due to the unblocking of the Ukrainian border, the Customs overperformed its plan by more than UAH 6 billion in April

03 May 2024

According to the State Treasury Service of Ukraine, in April 2024, the general fund of the State Budget received UAH 154.6 billion.

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

  • UAH 39.3 billion in value added tax on goods imported into the customs territory of Ukraine;

  • UAH 23.2 billion - value added tax on goods produced in Ukraine  (UAH 35.2 billion collected, UAH 12  billion refunded);

  • UAH 17.3 billion - excise tax;

  • UAH 16.8 billion - personal income tax and military duty;

  •  UAH 5.3 billion - fee for the use of mineral resources;

  • UAH 4.0 billion - import and export duties;

  • UAH 3.2 billion - corporate income tax.

At the same time, the State Tax Service performed 109.5% (+UAH 5.2 billion) of the monthly revenue plan, and the State Customs Service - 114.8% (+UAH 6.3 billion).

In addition, UAH 38.6 billion was received from the National Bank, which, in accordance with the Law of Ukraine "On the National Bank of Ukraine," is required to annually allocate a part of its profit to the State Budget after its annual financial statements are confirmed by an external audit and approved by the National Bank Council. Revenues to the general fund of the State Budget from international aid (grants) amounted to UAH 2.7 billion.

In total, as of April 2024, the general and special funds of the State Budget received UAH 203.5 billion in taxes, fees and other payments.

January-April 2024:

According to the State Treasury Service of Ukraine, in January-April 2024, the general fund of the State Budget received UAH 623.5 billion.

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

  • UAH 148.3 billion in value added tax on goods imported into the customs territory of Ukraine;

  • UAH 99.9 billion –  corporate income tax;

  • UAH 92.2 billion – value added tax on goods produced in Ukraine  (UAH 136.8 billion collected, UAH 44.7 billion refunded);

  • UAH 61.7 billion - personal income tax and military duty;

  • UAH 56.5 billion - excise tax; 

  • UAH 32.3 billion – dividends from state-owned enterprises;

  • UAH 16.3 billion - import and export duties;

  • UAH 14.7 billion - fee for the use of mineral resources.

In January-April, the State Tax Service performed 112.6% of its revenue plan (+UAH 38.2 billion) and the State Customs Service 108.4% (+UAH 14.4 billion).

Along with the National Bank of Ukraine, which allocated UAH 38.6 billion of its profit to the State Budget in April 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-April amounted to  UAH 163.1billion, of which UAH 44.4 billion was received in April.

In total, in January-April 2024, the general and special funds of the State Budget received UAH 845.6 billion in taxes, fees and other payments. In January-April 2024, the expenditures of the State Budget amounted to UAH 1,147.6 billion, including UAH 945.4 billion of the general fund.

Actual public borrowings to the general fund of the State Budget in January-April 2024 amounted to UAH 564.1 billion or 96.5% of the planned for the period.

UAH 143.3 billion, including UAH 51.8 billion in foreign currency (USD 749.5 million and EUR 552.1 million) was attracted for the financing of the State Budget from the placement of domestic government bonds.

At the same time, UAH 111.4 billion was raised through the placement of war bonds.

In particular, UAH 420.8 billion (or about USD 10 billion) was received from external sources:

  • UAH 253.5 billion (EUR 6.0 billion) - EU loan under the Bridge Financing mechanism;

  • UAH 54.78 billion (USD 1.4 billion) IBRD Growth Foundations Development Policy Loan through the World Bank mechanism. 

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

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

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

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

At the same time, public debt repayments in January-April 2024 amounted to UAH 146.7 billion (90.9% of the plan), and service payments - UAH 64.5 billion (98.1% of the plan). 

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


 

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