Deficit of Ukraine's state budget comes to UAH 25.3 bln in Q1, 2019
The deficit of the national budget of Ukraine in the first quarter of 2019 was UAH 25.3 billion with the approved annual figure of UAH 90 billion, such preliminary data of the State Treasury Service were voiced by the Ministry of Finance.
"The deficit was financed by government borrowings. Privatization receipts amounted to UAH 184 million," the ministry said in a press release.
According to its data, at the expense of government domestic loan bonds the national budget was financed by UAH 87.3 billion (UAH 57.3 billion, $1 billion and EUR38.7 million), a loan of EUR 529.2 million was raised under the guarantee of the World Bank, and eurobonds worth $350 million with maturity in 2028 were additionally placed.
The ministry said that in the first quarter of 2019, state budget revenues increased by 8.7% compared to the same period of 2018, to UAH 210.5 billion, making up 95.3% of the target, in particular general fund receipts were UAH 178.2 billion, or 91.8% of the plan.
Among the reasons for the under-fulfillment of the plan, the ministry named the reduction in tobacco production, the release of solar panels imports from VAT from January 2019, the decline in natural gas imports by Naftogaz Ukrainy, the strengthening of the hryvnia, and the overpayment of natural gas royalty for UAH 600 million as of the beginning of February.