The deficit of the national budget of Ukraine in January-March 2013 totaled UAH 4.2 billion or 8.2% of the annual target, First Deputy Finance Minister of Ukraine Anatoliy Miarkovsky said at a press conference in Kyiv on Monday.

He said that the abstemious debt policy brought the deficit of the national budget in January-March 2013 down by UAH 13.4 billion more than had been planned for the period.

The deficit of the general fund of the national budget came to only UAH 7.1 billion, which is 16% of the annual target, or UAH 6.5 billion less than the target for the period, the first deputy minister said.

Miarkovsky noted that the indicators of the first quarter were affected by seasonal factors: revenues to the national budget in the first quarter are usually less than in the fourth quarter.

As for budget revenues, the official said that revenues to the consolidated budget displayed dynamic growth.

"The pace of growth [of the consolidated budget] was in a certain parameters that determine the necessity and the possibility of over-fulfilling the budget indicators," he said.

"The revenues of the state management sector, which means national and local budgets and all the social funds, actually came to UAH 151.2 billion in the first quarter, or UAH 2.6 billion or 1.8% more than the target for the first quarter of 2013… Compared to actual figures for the first quarter of 2012, the revenues of the state management sector grew by UAH 11.3 billion or 8.1%," the first deputy minister said.

The revenues of the consolidated budget in January-March 2013 came to UAH 106.8 billion, which is 1.9% up on the target for the first quarter and 8.3% up year-over-year. The revenues target for the first quarter of 2013 was over-fulfilled by 2.1%, and was 8.4% up on the indicators of January-March 2012.

He said that the shortfall of revenues in the general fund in January-March 2013 stood at UAH 600 million.

"For the general fund [revenues in January-March 2013]: the target is UAH 72.2 billion, and actual revenues amounted to UAH 71.6 billion," Miarkovsky said.

The official said that the non-fulfillment of the target is linked to smaller revenues from value added tax imposed on imported goods.

Value added tax refunding in funds in the first quarter of 2013 came to UAH 13.7 billion, which is 20.4% up year-over-year.

According to the law on the national budget for 2013, its revenues are estimated at UAH 362.83 billion, including UAH 315.224 billion in the general fund, with expenses at UAH 412.061 billion and UAH 363.630 billion respectively.

The budget deficit is projected at no higher than UAH 50.532 billion, including UAH 44.535 billion for the general fund.