Budget revenues grew by 89 billion – Ministry of Finance

Доходы бюджета выросли на 89 миллиардов - Минфин

The Ministry of Finance reported on the budget execution for the first three quarters

For the first nine months of this year, revenues fell by 7.7 billion hryvnia.

For the first three quarters of 2018, the revenues of the state budget of Ukraine increased by 88,9 billion (15.2%) and amounted 674,7 billion. This was reported on the website of the Ministry of Finance.

It is noted that the implementation of the budget during this period, accounting for 98.9%.

Such growth, in particular due to increase of VAT revenues from imported goods to 31.8 billion UAH and a profit tax of the enterprises 26.2 billion.

However, revenues in the budget was not fulfilled by UAH 7.7 bn. This happened, in particular, as a result of payment of dividends accrued on shares, excise tax, rental fee for subsoil use, import duties.

Revenues of the General Fund budget in January-September, equal 609,1 billion UAH, which is UAH 97.6 billion (19.1 per cent) more than last year.

Most funds in the General Fund budget came from VAT for goods produced, subject to the budgetary compensation (UAH 59.9 billion), VAT on imported goods (208,6 billion), tax on profits of enterprises (UAH 74.4 billion), taxes and fees on income of individuals (UAH 65.6 billion).

At the same time, reduced revenues from the excise tax 8.1 billion (11.8 per cent) and rental fee for use of mineral resources – 9.1 billion UAH (25%) and import duty – UAH 0.7 billion (4.7 per cent).

The amount of refunded VAT for the first three quarters increased by UAH 10.1 billion (11.5 percent) and is 97.6 billion.

The Finance Ministry has noted that the expenditure budget for the period was 680,6 billion and excluding debt service costs increased by 23.1% (111,5 billion UAH). The cost of public debt service has decreased by 2.3% (to UAH 2 billion) compared with last year.

From the state budget to local budgets was transferred 255,9 billion UAH, from which subventions for social protection amounted to 100.4 billion UAH.

It should be noted that according to the chamber, for three quarters of this year, the volume of the failure to plan revenues of the General Fund budget is 93,6 billion.


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