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Government fulfills its targeted state budget revenues by 100%

Budget revenues rose by 32% year-on-year
16:03, 3 January 2018

Reuters

The government managed to collect $28 billion in state budget revenues in 2017, which is slightly higher (by $7.81 million) than the figures laid out in the temporary plan. The State Treasury announced this, 112.ua reports.

Related: Law on state budget for 2018 comes into force in Ukraine

According to the data presented by the State Treasury, state revenues increased by 32% (or $6.8 billion) compared to the 2016 results. Also, the institution points out that budget revenues collected in December were at $2.47 billion, whereas figures like $2.75 billion and $2.2 billion exhibited in November and October respectively.

Related: Ukraine’s 2018 budget stipulates USD 18 bn on underground ammo storages, - Defense Minister

Tax revenues collected by the government in 2017 reached $16.03 billion, meaning a 23% (or $3.03 billion) increase from the 2016 figures. Custom revenues exceeded $10.83 billion, demonstrating a 30.8% (or $2.54 billion).

Related: Revised draft of state budget 2018 submitted to Parliament

The State Treasury also informed about the increase in revenues collected by local authorities – those rose by 38% (or $2.1 billion) compared to 2016 and reached $7.53 billion. This figure exceeded the anticipated result laid out in the temporary plan by 5.7% (or by $406 million in absolute terms).

Related: Elections and budget: What president discussed with MPs in his residence

It should be noted that the state budget revenues for 2017 were expected at $27.54 billion, whereas state budget expenditures were anticipated to reach $30.04 billion. The maximum budget deficit was set at $2.77 billion.

Related: Poroshenko approves amendments to Ukraine's 2017 state budget

The law on state budget for 2018 came into force on 1 January 2018 and it expects revenues to reach $31.68 billion, while expenditures are expected to amount to $33.86 billion.

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