Ukrainian PM expects customs budget revenue target not to be met in Feb over hryvnia exchange rate
The State Tax Service (STS) in February 2020 will meet the budget revenue plan, while it is expected that the budget receipts plan from the State Customs Service (SCS) would be repeatedly not met, Ukrainian Prime Minister Oleksiy Honcharuk has said.
"For the STS, we expect deficit, primarily because of the exchange rate difference, since the proceeds from the import of goods are much less [than planned]," he said, speaking in parliament last week.
Honcharuk said that another factor is the lower cost of energy, which previously was also an important source of revenues from the STS.
The prime minister said that today, there are no forecasts for the outturn of the national budget in February.
Asked about a possible revision and sequestration of the national budget 2020, the head of government said that the existing logic of adopting changes to the budget involves the initial preparation of an updated macroeconomic forecast by the Ministry of Economic Development, Trade and Agriculture, which is expected in the coming weeks.
"Based on the results of the figures laid down in the macroeconomic forecast, changes to the budget are passed. After that, we will make a decision together with you, with the budget and tax committees, about the revision or non-revision of the national budget," Honcharuk said.