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General Fund of State Budget Received UAH 136.7 billion of Revenues in July 2023

02 August 2023

According to the preliminary data of the State Treasury Service of Ukraine, in July 2023, the general fund of the State Budget received UAH 136.7 billion in revenues.

The main sources of the State Budget revenues were the following:

  • value-added tax on goods imported into the customs territory of Ukraine – UAH 30.8 billion;
  • value-added tax on goods produced in Ukraine – UAH 18.7 billion (UAH 28.7 billion collected and UAH 10 billion reimbursed);
  • personal income tax and military fee – UAH 15.2 billion;
  • excise tax on goods imported into the customs territory of Ukraine - UAH 8.7 billion;
  • fee for the use of mineral resources – UAH 5.4 billion;
  • corporate profit tax – UAH 3.2 billion;
  • import and export duty – UAH 2.4 billion.

The State Tax Service performed its monthly revenue plan by 101.1% (+ UAH 0.6 billion) and the State Customs Service by 106.8% (+UAH 2.0 billion).

Another important source of State Budget revenues in July was international assistance (grants) which amounted to UAH 47.6 billion at the end of the month. The funds were received from the United States of America.

January-July 2023:

According to the preliminary data of the State Treasury Service of Ukraine, in January-July 2023, the general fund of the State Budget received UAH 1,006.1 billion in revenues.

The main sources of the State Budget revenues were the following:

  • value-added tax on goods imported into the customs territory of Ukraine – UAH 192.5 billion;
  • value-added tax on goods produced in Ukraine – UAH 107 billion (UAH 189 billion collected and UAH 82 billion reimbursed);
  • personal income tax and military fee – UAH 95.4 billion;
  • corporate profit tax – UAH 71 billion;
  • excise tax on goods imported into the customs territory of Ukraine - UAH 58.9 billion;
  • fee for the use of mineral resources – UAH 35.3 billion;
  • import and export duty – UAH 16.9 billion.

At the same time, the State Tax Service performed its revenue plan by 102.8% (+ UAH 11 billion), and the State Customs Service by 98.4%.

In January-July, Ukraine received international assistance (grants) in the amount of UAH 317.2 billion. 

The largest donor of grant support in January-July 2023 was provided by the United States of America (UAH 310.8 billion). Ukraine also received non-refundable funding from Germany, Spain, Finland, Ireland, Switzerland, Belgium, and Iceland totaling up to UAH 6.4 billion. The funds were directed to the State Budget of Ukraine through the World Bank Trust Fund under the PEACE project.

Receipts of a single fee on obligatory national social insurance in the pension fund and social insurance funds in January-July 2023 amounted to UAH 263.7 billion, and UAH 39.4 billion was received in July.

In January-July 2023, the general and special funds of the State Budget received UAH 1,477.2 billion in taxes, fees and other payments.

According to the preliminary data of the State Treasury Service of Ukraine in January-July 2023, the expenditures of the State Budget amounted to UAH 2,066.9 billion.

In January-July 2023, the State Budget deficit amounted to UAH 483.9 billion, including the general fund in the amount of UAH 527.6 billion, compared with the planned deficit of the general fund of UAH 1,088.5 billion for this period.

Actual state borrowings to the State Budget's general fund in January-July 2023 amounted to UAH 1,033.7 billion.

UAH 324.8 billion, including UAH 105.7 billion in foreign currency (USD 2,191.1 million and EUR 640.9 million) was attracted for the financing of the State Budget from the placement of domestic government bonds. UAH 154.5 billion was attracted through to the issuance of wartime bonds.

Since the beginning of the year, UAH 708.9 billion was attracted from external sources, including:

  • UAH 417.9 billion (EUR 10.5 billion) of Macro-Financial Assistance in accordance with the Memorandum of Understanding between Ukraine and the EU dated January 16, 2023;
  • UAH 131.4 billion (SDR 2.7 billion) of IMF funds under the four-year Extended Fund Facility program;
  • UAH 64.2 billion (CAD 2.4 billion) loan from the Government of Canada;
  • UAH 54.7 billion (USD 1.5 billion) of IBRD development policy loan;
  • UAH 18.3 billion (USD 500 million) loan from the IBRD within the framework of the PEACE project;
  • UAH 16.1 billion (EUR 404.3 million) loan from the IBRD within the framework of the PEACE project.
  • UAH 1.3 billion (EUR 33.4 million) loan from the IBRD loan under the project "Strengthening the Health Care System and Saving Lives";
  • UAH 4.8 billion (USD 132.0 million) loan from the IBRD loan under the project "Accelerating Investment in Agriculture in Ukraine";
  • UAH 0.2 billion (USD 6.0 million) loan from the IBRD loan under the project "Additional Financing of the People-Centered Health Improvement Project".

Public debt repayments in January-July 2023 totaled UAH 273 billion, and debt service payments amounted to UAH 128 billion.

The funds raised from the domestic government bonds in January-June 2023 allowed to fully cover the need for funds required to make payments on the redemption of domestic government bonds.

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