Ukraine's state budget deficit widens by UAH 8.8 b in Jan-Oct, says Finance Ministry

10:08, 28.11.2012 1 min read

Ukraine had a state budget deficit of UAH 33.203 billion in the first ten months of 2012, the Finance Ministry reported.

This was up 170% from a deficit of UAH 12.353 billion in the first ten months of 2011.

Budget revenues in the ten months of this year rose 8.6% year-on-year to UAH 273.502 billion, while spending increased by 15.9% to UAH 302.63 billion.

Ukrainian Economic Development and Trade Minister Petro Poroshenko said earlier that the government would not meet the budget revenue target for 2012.

The amended state budget for 2012 targets revenue of UAH 373.96 billion, spending of UAH 413.605 billion and a deficit of UAH 38.807 billion. The budget deficit was UAH 23.56 billion in 2011.