Deficit of national budget in Jan-May 2018 reaches UAH 9.2 bln – Finance ministry
The deficit of Ukraine's national budget in January-May 2018 totaled UAH 9.2 billion, while a year ago the surplus of the national budget was UAH 26.5 billion, the Finance Ministry of Ukraine has reported on its website.
The ministry said that the deficit of the general fund of the national budget was UAH 14.2 billion, while last year the deficit of the general fund accounted for UAH 6.6 billion.
Budget expenditure in January-May 2018 came to UAH 379.9 billion, which is 26.6% more than a year ago. The ministry said that expenditure of the general fund grew by 24.8%, to UAH 354.1 billion.
Revenue of the national budget rose by 13.5% year-over-year, to UAH 369.7 billion. Revenue of the general fund was 22.7% up, reaching UAH 337.7 billion.
Tax payments grew by 18.3%, to UAH 298 billion. The profit tax payment increased 77.9%, to UAH 50.6 billion. Payments from royalties fell by 41.7%, to UAH 13.1 billion.
Non-tax revenue grew by 68%, to UAH 68 billion, including UAH 32 billion sent by the National Bank of Ukraine (NBU) and UAH 8 billion – the fee for the issue of radio frequency spectrum use licenses.
Payments of VAT grew by 18.3% in January-May 2018, to UAH 147.4 billion, while VAT refunds rose by 14.4%, to UAH 54.8 billion. Revenue of the budget from personal income tax grew by 22.5%, to UAH 34.1 billion.
The ministry said that the surplus of the consolidated budget of Ukraine in January-May 2018 was UAH 14.58 billion, while a year ago it was UAH 50.5 billion.
Revenue of consolidated budget grew by 14.5%, to UAH 468.1 billion, and expenditure – by 26.5%, to UAH 454.3 billion.