The state budget deficit of Ukraine in April 2023 increased to 88.3 billion UAH from 32.6 billion UAH in April and 59.2 billion UAH in March, the Ministry of Finance said on its website on Friday.
It specified that the general fund deficit increased to 91.6 billion UAH from 65.6 billion UAH and 72.6 billion UAH respectively.
The Ministry of Finance with reference to the operational data of the State Treasury specified that the cash expenditures of the state budget in May also increased to 364.7 billion UAH from 295.8 billion UAH in April and 300.8 billion UAH in March.
The same picture is in the general fund: the growth to 277.7 billion UAH from 229.7 billion UAH in April and 225.2 billion UAH in March.
As pointed out by the Ministry of Finance, in May 2023, the receipts to the general fund of the state budget increased again to 184 billion UAH from 162.8 billion UAH in April and 152.2 billion UAH in March.
At the same time, international grant assistance provided by the USA amounted to the same UAH 45.7 billion as in the previous two months.
During January-May this year, cash expenditures of the state budget reached UAH 1 trillion 407.9 billion, including general fund – UAH 1 trillion 142.9 billion, or 95% of budget expenditures against 93.8% in April, while state budget revenues amounted to UAH 1,060.9 billion, of which UAH 225 billion were grant international aid.
During those five months, the state budget was executed with a deficit of UAH 341.2 billion, including the general fund deficit of UAH 401.9 billion against the planned schedule of the general fund deficit of UAH 713.9 billion.
As reported, the Verkhovna Rada on March 21, 2023 increased the state budget expenditures by 487 billion UAH, revenues – by 61 billion UAH, which led to an increase in the deficit by 419 billion UAH.
Now the state budget revenues are set at 1 trillion 390.4 billion UAH, including the general fund – 1 trillion 233.8 billion UAH, while the expenditures are 3 trillion 75.9 billion UAH and 2 trillion 783.4 billion UAH respectively.
The state budget deficit is set at UAH 1 trillion 719.7 billion, including the general fund at UAH 1 trillion 543.9 billion. It is assumed that it will be financed almost entirely by external borrowing of $42 billion.
The Ministry of Finance specified that the value added tax (VAT) from goods produced in Ukraine in May brought 17.3 billion UAH compared to 16.6 billion UAH in April, but VAT refund again decreased from 11.4 billion UAH to 9.9 billion UAH.
The import VAT added another 28.5 billion UAH (25.1 billion UAH in April), personal income tax and military levy 14.1 billion UAH (13.4 billion UAH), royalties for subsoil use 4.5 billion UAH (4.9 billion UAH), and corporate income tax 28.5 billion UAH (2.3 billion UAH) to the budget.
Excise tax brought another 9.5 billion UAH (9.9 billion UAH) to the state budget; import and export duties accounted for 2.5 billion UAH (2.2 billion UAH), and the tax administration exceeded the estimate by 9.1%, or 8.4 billion UAH.
Besides, if in April the general fund of the state budget received another 35.9 billion UAH from the National Bank in the form of transferring part of profits (and the same amount was transferred to the Fund of liquidation of consequences of armed aggression of the Russian Federation in the special fund of the state budget), in May the general fund supported PrivatBank with dividends of 24.2 billion UAH.
Receipts of ERUs to the Pension Fund and social insurance funds in May 2023 rose to 38.5 billion UAH from 37.9 billion UAH in March, added the Ministry of Finance.
According to him, the actual state borrowing in the general fund of the state budget in May 2023 decreased to 142 billion UAH from 193.4 billion UAH in April and 176.7 billion UAH in March, and a total of 738.9 billion UAH for five months, or 87.9% of the plan.
Of which UAH 240.3 billion (UAH 68.6 billion in May) were received from placement of government bonds for five months, including UAH 80.3 billion (UAH 40.7 billion), or $1027.7 million, and EUR86.9 million ($616.4 million and EUR418 million) in foreign currency.
Credit proceeds from external sources for five months amounted to UAH 425.2 billion, including UAH 73.4 billion in May.
At that, payments on state debt repayment in May 2023 increased to 55.1 billion UAH from 46 billion UAH in April, and on servicing – to 45.7 billion UAH from 13.9 billion UAH.
The Ministry of Finance stressed that the rollover of OVDPs in five months was full: the funds raised from OVDPs allowed to fully cover the needs for payments on them.
Turkish President Recep Tayyip Erdogan’s swearing-in ceremony was held Saturday at the Turkish parliament.
“The swearing-in ceremony and inauguration of Turkish President Recep Tayyip Erdogan took place Saturday, June 3, at the Turkish parliament building in Ankara,” Anadolu Agency reported.
The ceremony was attended by representatives from 78 countries, including the heads of state and government of 20 countries.
Erdoğan, 69, was elected to a third presidential term – until 2028.
Later, Erdoğan will lay a wreath at the mausoleum of Mustafa Kemal Atatürk, the founder and first president of the Republic of Turkey. A luncheon in honor of the guests who arrived for the event is also planned.
On Saturday, Erdogan will also name a new Turkish cabinet.
Erdogan won the second round of the Turkish presidential election, which was held on May 28. According to data after processing 99.75% of ballots, Erdogan received 52.1% of the votes, while his opponent, opposition leader Kemal Kılıçdaroğlu, won 47.9%.
Earlier, a video on the Club of Experts channel analyzed the situation in Turkey after the elections. The full video can be seen at the link:
The volume of financing actually allocated to Ukraine by international partners in January-May 2023 to cover the deficit was $17.97 billion, compared to $32.14 billion in the previous year, the Ministry of Finance has reported.
According to the data published on its website, the grants accounted for $6.16 billion or 31.1%, including $6 billion provided by the United States, $52 million by Germany, $50 million by Spain and $21 million each by Finland and Ireland.
The biggest creditor of Ukraine this year is the EU – $8.12 billion, which has already exceeded the figure of the whole of last year, which amounted to $7.96 billion.
The IMF is the third largest lender this year with $2.706 billion compared with $2.693 billion last year.
They are followed by Canada with $1.76 billion, as well as the World Bank and the UK with $0.55 billion and $0.50 billion, respectively.
The Ministry of Finance specifies that the internal financing of the state budget through placement of government bonds amounted to $6.74 billion during this period.
As earlier reported, in 2023, Ukraine expects to receive about $42-42.5 bln in external financing of the state budget.
Turkish President Recep Tayyip Erdogan said on Sunday that he had won the presidential election.
“Our nation has made a choice and once again empowered us to lead the country for another five years,” Erdogan said, addressing his supporters at a rally.
He thanked all Turkish citizens who voted for him.
The presidential election in Turkey is already being called the main election of 2023 in the world. The pre-election economic and political situation in Turkey was analyzed by the Club of Experts research center, watch the video with the Club’s experts here:
The presidential election in Turkey is already being called the main election of 2023 in the world. The pre-election economic and political situation in Turkey was analyzed by the research center of the Club of Experts, watch the video with the Club’s experts here:
On May 28, the second round of presidential elections is taking place in Turkey. After the first round, none of the candidates received more than 50% of the votes, which would guarantee victory and election as president of this country. The incumbent President Recep Tayyip Erdoğan and Kemal Kılıçdaroğlu of the united opposition are fighting for this post.
Polling stations started working at 8:00 local time and will be open until 17:00. There are 191,885 ballot boxes in 973 constituencies and 1,094 district election commissions across the country. In total, more than 60 million citizens of the country are expected to take part.
Abroad, 3.5 million Turkish citizens registered there could cast their votes for the new president. Election commissions worked in 73 countries, and voting in foreign representations ended on May 24. The ballot boxes from abroad were delivered to Ankara by air and diplomatic mail. They will be opened together with other ballot boxes after voting is over.
Turkey’s presidential election has already been called the world’s most important election of 2023. The analysis of the pre-election economic and political situation in Turkey was carried out by the Club of Experts Research Center, see the video of the Club’s experts at the link:
The two presidential candidates in Turkey visited polling stations almost simultaneously and voted in the second round of presidential elections.
According to the Turkish press, President Recep Erdoğan voted at a polling station in the Asian part of Istanbul, while his opponent Kemal Kılıçdaroğlu voted in Ankara.
Polling stations opened in Turkey at 08:00 am local time (the same time as Kiev), they will close at 17:00, after which the ban on the publication of voting data will be lifted.
Earlier, the “Club of Experts” analyzed the prospects of candidates in the second round of elections. You can view the video here:
Subscribe to the Experts Club channel by clicking here:
https://www.youtube.com/@ExpertsClub
