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General Fund of State Budget Received UAH 139.4 billion of Revenues in October 2023

02 November 2023

According to the preliminary data of the State Treasury Service of Ukraine, in October 2023, the general fund of the State Budget received UAH 139.4 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 38.6 billion;

  • value-added tax on goods produced in Ukraine – UAH 22.8 billion (UAH 32.8 billion collected and UAH 9.9 billion reimbursed);

  • personal income tax and military fee – UAH 14.8 billion;

  • excise tax on goods imported into the customs territory of Ukraine - UAH 8.2 billion;

  • import and export duty – UAH 2.9 billion.

  • corporate profit tax – UAH 2.6 billion;

  • fee for the use of mineral resources – UAH 2.4 billion;

The State Tax Service performed its monthly revenue plan by 104.5% (+ UAH 2.2 billion) and the State Customs Service by 98.4% (-UAH 0.7 billion).

Another important source of State Budget revenues in October of this year was the funds received by Ukraine in the form of grants from the United States of America, which amounted to UAH 42.0 billion.

January-October 2023:

According to the preliminary data of the State Treasury Service of Ukraine, in January-October 2023, the general fund of the State Budget received UAH 1,414.3 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 299.7 billion;

  • value-added tax on goods produced in Ukraine – UAH 169.3 billion (UAH 280.8 billion collected and UAH 111.6 billion reimbursed);

  • personal income tax and military fee – UAH 140.0 billion;

  • corporate profit tax – UAH 108.7 billion;

  • excise tax on goods imported into the customs territory of Ukraine - UAH 88.1 billion;

  • fee for the use of mineral resources – UAH 48.5 billion;

  • import and export duty – UAH 25.4 billion.

At the same time, the State Tax Service performed its revenue plan by 102.6% (+ UAH 14.8 billion), and the State Customs Service by 97.3% (-UAH 9.0 billion).

The next important source of State Budget revenues in January-October was the funds received by Ukraine in the form of international assistance (grants) - UAH 404.9 billion.

The largest donor of grant support in January-October 2023 was provided by the United States of America (UAH 398.5 billion). Ukraine also received non-refundable funding from Germany, Spain, Finland, Ireland, Switzerland, Belgium, and Iceland totalling 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-October 2023 amounted to UAH 384.4 billion, and UAH 41.4 billion was received in October.

In January-October 2023, the general and special funds of the State Budget received UAH 2,206.0  billion in taxes, fees and other payments.

According to the preliminary data of the State Treasury Service of Ukraine in January-October 2023, the expenditures of the State Budget amounted to UAH 3,113.9 billion, including UAH 2,346.0 billion of the general fund, or 95,1% of the plan for the reporting period

In January-October 2023, the State Budget deficit amounted to UAH 900.0 billion, including the general fund in the amount of UAH 923.1 billion, compared with the planned deficit of the general fund of UAH 1,478.0 billion for this period.

Actual state borrowings to the State Budget's general fund in January-October 2023 amounted to UAH 1,341.4 billion.

UAH 452.0 billion, including UAH 141.5 billion in foreign currency (USD 3,098.3 million and EUR 709.3 million) was attracted for the financing of the State Budget from the placement of domestic government bonds.

At the same time, UAH 207.1 billion was raised through the issue of wartime bonds.

In particular, UAH 889.4 billion (or USD 24.3 billion) was received from external sources:

  • UAH 594.1 billion (EUR 15 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 54.9 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 3.7 billion (USD 100.0 million) of the IBRD loan under the Fifth Additional Financing of the project PEACE project;

  • UAH 16.1 billion (EUR 404.3 million) loan from the IBRD within the framework of the PEACE project;

  • UAH 4.8 billion (USD 132.0 million) loan from the IBRD loan under the project Accelerating Investment in Agriculture to Ukraine;

  • UAH 1.7 billion (EUR 42.3 million) loan from the IBRD loan under the project HEAL 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-October 2023 totalled UAH 383.0 billion (97.5% of the plan), service payments - UAH 187.5 billion (100.0% of the plan).

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



 

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