The Finance Ministry announced the budget deficit

В Минфине заявили о дефиците бюджета

The General Fund budget for five months of this year, a deficit of 14.2 billion hryvnias, while last year it was 6.6 billion.

The deficit of the state budget of Ukraine in January-may 2018 amounted to 9.2 billion, while last year’s budget over this period were drawn with a surplus of 26.5 billion.

About it reports Interfax-Ukraine with reference to data of the Ministry of Finance on Wednesday, June 27.

So, the General Fund budget for five months of this year, a deficit of 14.2 billion hryvnias, while last year the deficit of the General Fund budget was 6.6 billion.

Budget expenditures in January-may 2018 was equal 379,9 billion, 26.6% higher than in the same period of 2017. The Finance Ministry said that expenses for the General Fund increased by 24.8% to 354,1 billion.

The Finance Ministry said the growth of state budget revenues by 13.5% compared to the five months of 2017 before 369,7 billion. General Fund revenues increased by 22.7% to 337,7 billion.

Tax revenues grew by 18.3% – up to 298 billion. Among tax revenues showed the most pronounced growth income tax – 77.9% to 50.6 billion USD. The revenues from rent payments fell by 41.7% to 13.1 billion hryvnia.

Revenues from value added tax (VAT) grew by 18.3% in the five months of this year over the same period of 2017 to 147,4 billion, at the same time, the 14.4% increase in compensation of the VAT to 54.8 billion. At the same time, budget revenues from income tax on individuals (personal income tax) grew by 22.5% to 34.1 billion UAH.

Non-tax revenues increased by 68% to 68 billion UAH, including 32 billion UAH – funds transferred by the National Bank of Ukraine, 8 billion hryvnia – the fee for the issuance of licenses to use radio frequencies.

We will remind, the state budget revenues in 2018 is estimated in the amount 917,9 billion UAH, expenditures – at the level 991,7 billion.

Limits of budget deficit in 2018 is 80.6 billion or 2.4% of GDP, which corresponds to the program of cooperation with the IMF.

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