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Ukraine’s state budget implemented with deficit in sum of $6.7 million in 11 months

Source : 112 Ukraine

The expenses of the state budget increased by $4.4 billion or almost 20%, excluding the debt service
16:48, 21 December 2018

Mirror Weekly

The state budget of Ukraine was implemented by 100.2% during 11 months, as the press service of the Finance Ministry of Ukraine reported.

It is reported that the incomes of the state budget increased by $4.3 billion or by 16.4% during 11 months in comparison with the same period of time in 2017 and they made $30.7 billion.

Related: Kyiv budget revenues increase by $97 million, - Kyiv City State Administration

The incomes from the VAT of the imported goods increased by $1.6 billion, from the enterprises’ income tax by $1.3 billion, VAT of the manufactured products considering the budget reparation by $474 million, tax and fee from the incomes of the physical persons by $550 million, excise tax by $302 million and funds from the sale of 4G license by $228 million.

The surpassing of the budget made $65.5 million and took place through own incomes ($554.3 million) tax for the enterprises’ income ($528.8 million), tax and fee from the incomes of the physical persons ($43.7 million).

Related: Key figures of Ukraine's state budget 2019

The incomes of the general fund made $27.7 billion, which is $4.46 billion (19.2%) more than the last year. The implementation of the signature during this period of time is 98.5%, the shortfall is $412 million.

The largest amount of the funds in January-November 2018 was received from:

  • payment of the VAT from the manufactured products considering the budget reparation ($2.58 billion, it is more for $474 million or 22.4% than in 2017);
  • VAT of the imported goods ($9.8 billion, it is more for $1.6 billion or 19.5% than in 2017);
  • tax for enterprises’ incomes ($3.4 billion, it is more for $1.3 billion or 50.1% than in 2017);
  • tax and fee from the incomes of the physical persons ($2.97 billion, it is more for $550 million or 22.6%).

Related: Parliament approves changes to Budget Code of Ukraine

At the same time, it is noted that the incomes from the excise tax decreased by $317.2 million (10%), which is explained by the increase of the percent of the payments to the special fund of the incomes of the tax for petroleum products and transport means and rent for the use of the subsoil by $149.5 million (10.5%).

The volume of the recovered VAT increased by $470.4 million (11.9%) and made $4.4 million.

Related: Ministers did not consider double burden effect in pension reform in Ukraine

The expenses of the state budget for the reporting period increased in comparison with the rate of the last year by 17.1% ($4.5 billion) and made $30.7 billion. The expenses of the budget increased by $4.4 billion (19.4%) without consideration of the debt service.

The expenses of the common fund of the state budget increased by $3.96 billion in comparison with the last year and made $28 billion.

Related: Lessons to be learned from countries with mandatory funded pension system

The expenses of the common fund for the salaries with finance charges increased by $1.2 billion (29.3%) and made $5.4 billion, and expenses for the social security increased by $572.5 million (12.3%) and made $5.2 billion.

The transfer to the Pension Fund was financed in the volume $4.69 billion. It is more by $532 million (12.8%) than in 2017.

Related: Ukraine’s balance of payments deficit at $449 million in January

The state budget of Ukraine was implemented with the deficit in the sum of $6.7 million.

The budget got $6.3 million from the privatization of the state property.

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