State Budget Performance in January 2024

According to the State Treasury Service, in January 2024, the general fund of the State Budget received UAH 116 billion.

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

• UAH 37.0 billion in value added tax on goods imported into the customs territory of Ukraine;

• UAH 35.1 billion - value added tax on goods produced in Ukraine  (UAH 44.9 billion collected, UAH 9.8 billion refunded);

• UAH 13.0 billion - personal income tax and military duty;

• UAH 12.2 billion - excise tax;  

• UAH 4.6 billion - import and export duties;

• UAH 3.5 billion - - fee for the use of mineral resources;

• UAH 2.0 billion - corporate income tax.

The State Tax Service performed its monthly revenue plan by 113.8% (UAH 7.3 billion) and the State Customs Service by 130.3% (+UAH 11.0 billion).

In addition, in January this year, the general fund of the State Budget received UAH 3.4 billion in international assistance (grants). The funds were allocated by Japan as part of the World Bank's projects.

The unified social tax revenues to the Pension Fund and social insurance funds totalled UAH 34.2 billion.

As of January 2024, the general and special funds of the State Budget received UAH 154.2 billion in taxes, duties, and other payments.

According to the State Treasury Service of Ukraine, in January 2024, expenditures of the State Budget amounted to over UAH 169.3 billion, including UAH 149.5 billion of the general fund. 

In January 2024, the State Budget was executed with a deficit of UAH 14.9 billion, including a deficit of UAH 33.3 billion in the general fund.

Actual public borrowings to the general fund of the State Budget in January 2024 amounted to UAH 43.28 billion, or 34.6% of the planned amount for this period.

UAH 32.03 billion, including UAH 19.3 billion in foreign currency (USD 250.0 million and EUR 235.0 million) was attracted for the financing of the State Budget from the placement of domestic government bonds.

At the same time, UAH 20.8 billion was raised through the issue of war domestic government bonds.

From external sources UAH 11.25 billion (USD 297.0 million) of the IBRD loan were received as part of the financing of the World Bank’s Investing in Social Protection for Inclusion, Resilience and Efficiency (INSPIRE) project.

At the same time, public debt repayments in January 2024 amounted to UAH 17.5 billion (94.6% of the plan), and service payments - UAH 9.5 billion (90.6% of the plan).

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