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General Fund of State Budget Received UAH 124.7 billion of Revenues in August 2023

04 September 2023

According to the preliminary data of the State Treasury Service of Ukraine, in August 2023, the general fund of the State Budget received UAH 124.7 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 34 billion;
  • corporate profit tax – UAH 30.9 billion;
  • value-added tax on goods produced in Ukraine – UAH 20 billion (UAH 29 billion collected and UAH 9 billion reimbursed);
  • personal income tax and military fee – UAH 14.6 billion;
  • excise tax on goods imported into the customs territory of Ukraine - UAH 10.1 billion;
  • fee for the use of mineral resources – UAH 4.2 billion;
  • import and export duty – UAH 2.8 billion.

The State Tax Service performed its monthly revenue plan by 100.3% (+ UAH 0.2 billion) and the State Customs Service by 95.3% (-UAH 1.8 billion).

January-August 2023:
According to the preliminary data of the State Treasury Service of Ukraine, in January-August 2023, the general fund of the State Budget received UAH 1,130.8 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 226.5 billion;
  • value-added tax on goods produced in Ukraine – UAH 127 billion (UAH 218 billion collected and UAH 91 billion reimbursed);
  • personal income tax and military fee – UAH 109.9 billion;
  • corporate profit tax – UAH 101.9 billion;
  • excise tax on goods imported into the customs territory of Ukraine - UAH 69 billion;
  • fee for the use of mineral resources – UAH 39.4 billion;
  • import and export duty – UAH 19.6 billion.

At the same time, the State Tax Service performed its revenue plan by 102.4% (+ UAH 11.2 billion), and the State Customs Service by 97.9% (-UAH 5.3 billion).

The next important source of State Budget revenues in January-August was the funds received by Ukraine in the form of international assistance (grants) - UAH 317.2 billion.

The largest donor of grant support in January-August 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-August 2023 amounted to UAH 301.8 billion, and UAH 38.2 billion was received in August.

In January-August 2023, the general and special funds of the State Budget received UAH 1,655.2 billion in taxes, fees and other payments.

According to the preliminary data of the State Treasury Service of Ukraine in January-August 2023, the expenditures of the State Budget amounted to UAH 2,377 billion, including UAH 1,887.7 billion of the general fund, or 93% of the plan for the reporting period

In January-August 2023, the State Budget deficit amounted to UAH 714.6 billion, including the general fund in the amount of UAH 749.8 billion, compared with the planned deficit of the general fund of UAH 1,237.4 billion for this period.

Actual state borrowings to the State Budget's general fund in January-August 2023 amounted to UAH 1,120.6 billion.

UAH 351.3 billion, including UAH 106.5 billion in foreign currency (USD 2,191.1 million and EUR 660.9 million) was attracted for the financing of the State Budget from the placement of domestic government bonds. UAH 160.2 billion was attracted through to the issuance of wartime bonds.

Since the beginning of the year, UAH 769.3 billion was attracted from external sources, including:

  • UAH 477.7 billion (EUR 12 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 1.7 billion (EUR 42.3 million) loan from the IBRD loan under the project HEAL Ukraine;
  • UAH 4.8 billion (USD 132.0 million) loan from the IBRD loan under the project Accelerating Investment in Agriculture to Ukraine";
  • UAH 0.2 billion (USD 6.0 million) loan from the IBRD loan under the project Additional Financing for the Serving People, Improving Health.

Public debt repayments in January-August 2023 totaled UAH 301.5 billion, and debt service payments amounted to UAH 159.7 billion.

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

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