The deficit of Ukraine's national budget in January-October 2018 was UAH 4.8 billion with the upper limit of UAH 80.6 billion for the deficit approved in the law on the national budget, Ukraine's Finance Ministry reported on Thursday.

The ministry said that the deficit of the general fund was UAH 10.5 billion with the approved limit of UAH 57.4 billion.

The State Treasury Service earlier said that the deficit of the national budget in January-September 2018 was UAH 7.3 billion, including UAH 11.3 billion for the general fund, which means that in October there was surplus.

The ministry said that successful talks with the International Monetary Fund (IMF) helped Ukraine to enter the international capital markets, which allowed boosting external borrowing to finance the deficit of the national budget in January-October 2018 to UAH 19.4 billion or $725 million.

The ministry said that in January-October 2018 revenue of the national budget grew by 15.4% year-over-year, reaching UAH 747.4 billion. The target was met by 99.7%.

The Finance Ministry said that the main reasons for the shortfall in revenues (UAH 2.4 billion) was the shortfall of dividends accrued on shares - UAH 9.7 billion, excise tax - UAH 6 billion, funds transferred by the NBU - UAH 5.9 billion, proceeds from the sale of confiscated goods UAH 4.5 billion, VAT on imported goods - UAH 0.7 billion, rental payments for the use of mineral resources - UAH 3.2 billion and import duties - UAH 1.2 billion, while the target for own revenues was met by UAH 14.2 billion more, profit tax of enterprises - by UAH 13.1 billion, VAT on manufactured goods, including reimbursement - UAH 0.4 billion and personal income tax - by UAH 1 billion.

Revenues of the general fund of the national budget in January-October 2018 amounted to UAH 673.2 billion, which is UAH 105.1 billion (18.5%) more than last year, the ministry said.

The Finance Ministry said that the most significant expenses for the state (social, defense and security, public debt service) were financed in full. According to him, total expenses in January-October 2018 increased by 16.3% year-over-year, to UAH 751.8 billion, including the general fund - by 15.1%, to UAH 687.8 billion.

At the same time, the cost of servicing the public debt decreased by 8.3%, or UAH 8.3 billion compared to last year.

The Finance Ministry said that the expenses of the general fund of the national budget on wages with bonuses increased by UAH 30.9 billion, or 30% compared to January-October 2017, to UAH 133.8 billion, and for social security - by UAH 21.8 billion, or 19.7%, and amounted to UAH 132 billion.

The transfer to the Pension Fund for January-October 2018 was financed by 100% in the amount of UAH 118.8 billion, which is 21.1%, or UAH 20.7 billion, more than in January-October 2017.