National budget revenue exceed target by 10.3% in Jan-July, 4.9% less than target in July
Revenue of the national budget of Ukraine in January-July 2017 totaled UAH 447.63 billion, which is 10.3% or UAH 41.8 billion more than the target for the period, the State Treasury Service reported on Tuesday.
The authority said that revenue grew by UAH 146.33 billion or 48.6% year-over-year.
In July, revenue totaled UAH 52.73 billion compared to UAH 69.1 billion in June when Naftogaz Ukrainy paid dividends of UAH 13.3 billion. This is also lower than the May figure of UAH 65.98 billion and a record-breaking April figure of UAH 85.03 billion seen thanks to the arrival of UAH 29.7 billion from special confiscation and UAH 10 billion from the National Bank of Ukraine (NBU).
In July 2017, the revenue target was not met (4.9% or UAH 2.72 billion less), while revenue grew by 47.8% or UAH 17.06 billion year-over-year.
Tax payments in January-July 2017 grew by 20.2% year-over-year, to UAH 181.11 billion, while customs payments – by 31.6%, to UAH 162.86 billion. These payments exceeded the targets by 0.7% and 14.4% respectively.
In July tax payments were 6.4% lower than the target, but 42.3% more than a year ago, reaching UAH 18.8 billion. A rise of 28% was seen in customs payments on July 2016 and it was 7.9% more than the target, totaling UAH 24.74 billion.
Some UAH 68.29 billion was paid as VAT refunds in January-July 2017, and this was 41.5% more than a year ago. UAH 11.3 billion was paid in July.
The NBU sent UAH 5 billion to the national budget in July.
The revenue target of the general fund of the national budget in January-July 2017 was 105.3% met. Revenue of the general fund totaled UAH 387.33 billion, which is 36.4% more than a year ago. In July the target was 98.8% met, while revenue of UAH 48.63 billion was 44.7% more than in July 2017.
Revenue of local budgets in January-July 2017 grew by 38.8% year-over-year, to UAH 114.56 billion, including a 31.2% rise in July, to UAH 17.72 billion.
Social security tax payments grew by 38.2% in July 2017 year-over-year, reaching UAH 15.13 billion, and in January-July 2017 it rose by 35.8%, to UAH 99.45 billion.
