11:16 02.03.2015

National budget revenue in Jan 2015 11.7% down on Jan 2014 with 17.3% rise in expenses, says Finance Ministry

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National budget revenue in Jan 2015 11.7% down on Jan 2014 with 17.3% rise in expenses, says Finance Ministry

Revenue of Ukraine's national budget in January 2015 came to UAH 22.35 billion, which is 11.7% down on January 2014, while its expenses grew by 17.3%, to UAH 31.56 billion, the Finance Ministry reported on February 27.

"In the comparable conditions, not taking into account payments from the NBU in the amount of UAH 4.04 billion in January 2014, revenue of the national budget in January 2015 grew by 5.1% year-over-year or by UAH 1.08 billion," the ministry said.

The ministry said that revenue of the general fund decreased by 14%, to UAH 19.36 billion, while expenses grew by 20.1%, to UAH 30.45 billion.

The deficit of the general fund came to UAH 11.1 billion, which is 3.9 times up year-over-year.

The ministry said that revenues from value added tax (VAT) collected inside the country fell by 12.1%, to UAH 7.53 billion and revenue from VAT imposed on imported goods were down by 29.1%, to UAH 6.81 billion, revenue from profit tax decreased by 29.9%, to UAH 2.2 billion and revenue from excise duty collected inside the country fell by 4.8%, to UAH 1.78 billion.

The collection of royalties for use of deposits grew by 4.7%, to UAH 1.12 billion, imports duty – by 0.1%, to UAH 680 million. In addition, due to the introduction of the military tax, the general fund saw a triple increase in collection of individuals' income tax – UAH 1.58 billion.

The ministry said that VAT refunding in January 2015 fell by 7% on January 2014, to UAH 4.82 billion.

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