17:59 30.12.2015

Ukraine's budget deficit comes to UAH 4.3 bln in 11 months of 2015, UAH 7.1 bln in Nov

3 min read
Ukraine's budget deficit comes to UAH 4.3 bln in 11 months of 2015, UAH 7.1 bln in Nov

The deficit of Ukraine's national budget in the first 11 months of 2015 amounted to UAH 4.34 billion, in particular UAH 670 million in the general fund, while during the same period last year UAH 62.28 billion and UAH 47.67 billion respectively, the Ministry of Finance has reported.

Taking into account the previously disclosed data, in November the budget deficit amounted to UAH 7.1 billion, in particular that of the general fund was UAH 4.8 billion.

The ministry said that budget revenues for the 11 months of this year increased by 50.4% compared to the same period last year, to UAH 479.85 billion, in particular those of the general fund by 62.6%, to UAH 452.81 billion.

Given the previously disclosed data, in November revenue growth reached 77.1%, to UAH 52.41 billion, in particular revenues to the general fund rose by 98.2%, to UAH 50.46 billion.

Revenue from collection of military tax grew by 4.3 times, to UAH 8.05 billion, deposit rate tax – by 4.6 times, to UAH 7.51 billion, payments by the National Bank of Ukraine (NBU) – by 2.6 times, to UAH 59.13 billion, excise duties on imports – by 46.9%, to UAH 22.14 billion and revenue from the introduction of the additional import duty was UAH 22.08 billion.

Revenue from VAT and internal excise duties levying grew by 30-35%, VAT refunding rose by 20%, and revenue from collection of profit tax fell by 14.1%.

Budget expenditure grew by 27.1% in January-November 2015, to UAH 481.03 billion, including expenditure of the general fund – by 39.4%, to UAH 455.24 billion.

In November 2015, growth of expenditure reached 56%, being UAH 58.82 billion, including a ruse of 75.3% in expenses of the general fund, to UAH 56 billion.

Expenses on defense doubled, to UAH 41.94 billion, on servicing state debt – by 82.5%, to UAH 77.03 billion, while on healthcare they rose by 4.7%, to UAH 8.12 billion, education – by 2.8%, to UAH 26.07 billion and they fell by 12.6% on economic activities, to UAH 28.22 billion.

The Finance Ministry said that the consolidated budget posted a surplus of UAH 19.97 billion in January-November 2015 compared to deficit of UAH 53.13 billion a year ago, although in November the deficit of UAH 6.82 billion was recorded, which is almost the same as in November 2014.

Revenue of the consolidated budget in January-November 2015 grew by 43.2%, to UAH 584.73 billion, including a rise of 65.8% in November, to UAH 63.44 billion, while expenses grew by 22.5%, to UAH 561.51 billion, including a rise of 55.1% in November, to UAH 69.5 billion.

Taking into account the transfer of a part of expenses to the local budgets, expenses on healthcare grew by 20.6% in January-November 2015, on education by 10.7% and economic activities by 7.1%.

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