Revenues from taxes, fees, and mandatory payments to the general and special funds of the state budget of Ukraine in the first half of 2025 amounted to UAH 1.87 trillion, while cash expenditures amounted to UAH 2.4 trillion, which is approximately 42% and 24% higher than the corresponding figures for the first half of 2024.
According to operational data from the State Treasury Service published by the Ministry of Finance on its website, revenues to the general fund increased by 43% to UAH 1.3 trillion, while expenditures increased by 21% to UAH 1.87 trillion.
It is noted that after raising the military tax from 1.5% to 5% and introducing a condition for reserving salaries at UAH 20,000 this year, personal income tax and military tax came in second place in terms of revenues for the first half of this year, amounting to UAH 167.8 billion compared to UAH 97.1 billion last year.
In addition, the main revenues were provided by: VAT on goods imported into the customs territory of Ukraine – UAH 245.3 billion (in the first half of 2024 – UAH 223.9 billion), VAT on goods produced in Ukraine – UAH 156.1 billion for reimbursement of UAH 86.2 billion (UAH 132.1 billion for reimbursement of UAH 70.1 billion), corporate income tax – UAH 155.7 billion (UAH 147.6 billion), excise tax – UAH 132.7 billion (UAH 91.1 billion).
In addition, dividends and part of the net profit of state-owned companies amounted to UAH 55.6 billion (UAH 64.2 billion), import and export duties – UAH 25.2 billion (UAH 23.8 billion), rent for the use of subsoil resources – UAH 18.8 billion (UAH 23.4 billion).
The Ministry of Finance added that another 84.2 billion UAH (38.6 billion UAH) was added to the budget from the National Bank’s profits.
According to the information, the ERA mechanism launched by the G7 at the end of last year to use revenues from frozen Russian assets significantly increased grant international aid revenues to the budget – to UAH 210.9 billion, compared to UAH 40.3 billion in the first half of 2024.
Revenues from the single social contribution to pension and social insurance funds in January-June 2025 increased by 23% to UAH 314.6 billion, including a 20% increase in June to UAH 57.4 billion.
The Ministry of Finance also reported that as part of the financing of the general fund of the state budget, state borrowings to it in January-June 2025 amounted to UAH 856.2 billion (UAH 746.9 billion), or 87.0% of the plan, including UAH 232.5 billion (UAH 242.4 billion) from the domestic market through the placement of government bonds, including UAH 44.7 billion (UAH 72.92 billion) in foreign currency – $642.0 million and EUR388.8 million ($1,149.5 million and EUR665.7 million).
At the same time, UAH 111.7 billion (UAH 164.2 billion) was raised through the issuance of military government bonds.
According to the release, about $15.0 billion ($12.8 billion) came from external sources, including about $11.0 billion under the ERA, with the total volume of this mechanism amounting to $50 billion.
In addition, Ukraine received another EUR3.1 billion from the EU under the Ukraine Facility preferential long-term loan, $0.44 billion from the IMF and $0.24 billion from the World Bank for the projects “Transforming Health Care through Reform and Investments in Efficiency” (THRIVE) and “Building Resilient Infrastructure in Vulnerable Environments in Ukraine” (DRIVE).
Payments on public debt in January-June 2025 amounted to UAH 322.4 billion (UAH 259.1 billion), or 97.6% of the plan, and service payments amounted to UAH 179.85 billion (UAH 132.8 billion), or 73.9% of the plan.
As reported, the 2025 state budget was approved with revenues of UAH 2 trillion 327.1 billion, including the general fund – UAH 2 trillion 133.3 billion (excluding grants and international assistance), and expenditures of UAH 3 trillion 929.1 billion, including the general fund – UAH 3 trillion 591.6 billion. At the same time, the government has already proposed to parliament to increase this year’s budget expenditures by UAH 400.5 billion and revenues by UAH 147.5 billion.
In 2024, the state budget received UAH 3 trillion 120.5 billion in revenues, which is UAH 448 billion, or 16.8%, more than the 2023 state budget. The general fund’s revenue grew by 513.9 billion hryvnia, or 30.9%, to 2 trillion 177 billion hryvnia, including international financial assistance in the form of grants amounting to 453.6 billion hryvnia, compared to 433.9 billion hryvnia in 2023.
State budget expenditures in 2024 increased by UAH 464.5 billion, or 11.6%, compared to 2023, to UAH 4 trillion 479.3 billion, in particular, under the general fund – by 15%, or UAH 454.5 billion – to UAH 3 trillion 488.8 billion.
