Taxes, fees, and mandatory payments to the general and special funds of the state budget of Ukraine for January-November 2025 amounted to UAH 3.29 trillion, while cash expenditures amounted to UAH 4.54 trillion, which is approximately 24.1% and 20.3% higher than the corresponding figures for the same period in 2024.
According to operational data from the State Treasury Service, which the Ministry of Finance published on its website, general fund revenues increased by 23.5% to UAH 2.34 trillion, while expenditures increased by 18.1% to UAH 3.54 trillion.
In November this year, state budget revenues increased by 6.6% compared to November last year, to UAH 321.5 billion, including the general fund – by 4.2%, to UAH 229.3 billion. This is due to the receipt of grants worth UAH 34.3 billion last month, while in November last year such funding amounted to UAH 56.4 billion.
It is noted that the largest source of revenue in January-November this year remains VAT on goods imported into the customs territory of Ukraine – UAH 486.6 billion (UAH 424.0 billion in the first 11 months of 2024).
After raising the military tax from 1.5% to 5% and introducing a condition for reserving a salary of UAH 20,000 this year, personal income tax and military tax came in second place in terms of revenue for the 11 months of this year – UAH 324.6 billion compared to UAH 200.7 billion last year.
In third place this year is VAT on goods produced in Ukraine – UAH 278.3 billion for refunds of UAH 166.2 billion (UAH 242.7 billion for refunds of UAH 139.9 billion), while corporate income tax amounted to UAH 277.3 billion (UAH 251.3 billion), and excise tax amounted to UAH 255 billion (UAH 189.5 billion).
In addition, dividends and parts of the net profit of state-owned companies amounted to UAH 67.8 billion (UAH 69.2 billion), import and export duties – UAH 49.7 billion (UAH 43.8 billion), and rent payments for the use of subsoil resources – UAH 39.6 billion (UAH 42.8 billion).
The Ministry of Finance added that another UAH 84.2 billion (UAH 38.6 billion) was added to the budget from the National Bank’s profits, and grants amounted to UAH 381.2 billion (UAH 325.6 billion).
Revenues from the unified social tax to pension and social insurance funds in January-November 2025 increased by 21.1% to UAH 593.1 billion, including in November by 13.6% to UAH 55.8 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-November 2025 amounted to UAH 1.96 trillion, or 94.3% of the plan, including UAH 512.7 billion received on the domestic market from the placement of government bonds, including UAH 124.6 billion in foreign currency – $2.26 billion and EUR 645 million. At the same time, UAH 242.1 billion was raised through the issuance of military government bonds.
According to the release, approximately $34.7 billion, or UAH 1.44 trillion, was received from external sources, including approximately $24.0 billion under the ERA, with the total volume of this mechanism amounting to $50 billion.
In addition, Ukraine received another EUR 7.95 billion from the EU under the Ukraine Facility preferential long-term loan, $0.96 billion from the International Monetary Fund (IMF), and $0.57 billion from the World Bank for the projects “Transforming Health through Reform and Investment in Efficiency” (THRIVE), “Creating Resilient Infrastructure in Vulnerable Environments in Ukraine” (DRIVE), “Supporting Recovery through Sound Fiscal Management” (SURGE), “Supporting Internally Displaced Persons in Ukraine” (HOME), and “Modernizing Ukraine’s Social Support System.”
Payments on the repayment of public debt for January-November 2025 amounted to UAH 570.9 billion, or 94.2% of the plan, and payments on servicing amounted to UAH 319.9 billion, or 98.2% of the plan.
As reported, as a result of two major increases in July and October, the 2025 state budget currently has planned revenues (excluding grants) of UAH 2.50 trillion, while expenditures are UAH 4.65 trillion, including the general fund – UAH 2.28 trillion and UAH 4.29 trillion, respectively.
In 2024, the state budget received UAH 3.12 trillion in revenues, which is UAH 0.45 trillion, or 16.8%, more than the 2023 state budget. Under the general fund, revenue growth amounted to UAH 0.51 trillion, or 30.9%, to UAH 2.18 trillion, in particular, international financial assistance in the form of grants amounted to UAH 0.45 trillion compared to UAH 0.43 trillion in 2023.
State budget expenditures in 2024 increased by UAH 0.46 trillion, or 11.6%, compared to 2023, to UAH 4.48 trillion, in particular, under the general fund – by 15%, or UAH 0.45 trillion – to UAH 3.49 trillion.
On December 3, the Verkhovna Rada approved Ukraine’s state budget for 2026 with revenues of UAH 2.90 trillion and expenditures of UAH 4.82 trillion.
