According to the results of 2025, the state-owned enterprise “Forests of Ukraine” ranked among the top three contributors to the state budget with UAH 5.9 billion in accrued dividends, more than four times the level of 2024 (UAH 1.3 billion), the state-owned enterprise’s press service reported on Facebook.
According to the report, the leaders in terms of accrued dividends were also JSC “NAEK ‘Energoatom’ (UAH 9.3 billion) and PJSC ”Ukrhydroenergo” (UAH 6.3 billion).
As noted with reference to the Ministry of Economy, Environment, and Agriculture of Ukraine, the growth in these figures was driven by systemic changes: the open sale of forest products, the transition to procurement through Prozorro, the divestment of non-core business areas, and cost optimization.
According to the company, in January–March 2026, the volume of timber harvesting increased to nearly 3 million cubic meters, which is 50% more compared to the same period in 2023. Net revenue for the reporting period rose by 87% to UAH 8.6 billion, while pre-tax profit increased by 273% to UAH 3 billion. The return on operations for the quarter reached 34.9%.
Tax payments by the state-owned enterprise “Forests of Ukraine” in the first quarter of 2026 increased by 166% compared to the first quarter of 2023, reaching UAH 4 billion.
As of early May 2026, the enterprise had increased timber harvesting by 560,000 cubic meters compared to last year’s figures. The state-owned enterprise’s share of the country’s total timber harvest rose from 83% to 88%.
State Enterprise “Forests of Ukraine” has now launched a modernization program to transition to mechanized timber harvesting. Last week, the first contract for the supply of harvesters from Sweden was signed. The program also includes the renewal of the firefighting equipment fleet and the operation of a modern seed center.
State-owned LLC “Land Bank” transferred UAH 369 million in dividends to the state budget based on its 2025 performance, representing 95% of the company’s net profit, the operator’s press service reported on its Telegram channel.
According to the report, this figure is one of the highest in terms of profit return to the state among enterprises under the management of the State Property Fund of Ukraine (SPFU).
“This is an example of how state assets can function as a fully-fledged economic instrument. The Land Bank proves that instead of passive holding, the state can achieve tangible financial results,” emphasized SPFU Chairman Dmytro Natalukha.
According to the CEO of State Land Bank LLC Yaroslav Yaroslavsky, based on last year’s results, the company made it onto the list of major taxpayers, ranking 12th among state-owned enterprises by revenue alongside giants such as “Naftogaz,” “Ukrenergo,” and “Ukrzaliznytsia.”
The “Land Bank” is a state-owned operator established to manage agricultural land through a long-term lease mechanism. 100% of the company’s shares are owned by the state, represented by the State Property Fund of Ukraine.
The project was officially launched in 2024 to consolidate state-owned land and sell it through online auctions on the “Prozorro.Sales” platform. The first auctions for land leases began in the fall of 2024, allowing the operator to achieve significant financial results in its very first full year of operation. According to the State Property Fund of Ukraine, the company currently manages over 100,000 hectares of land.
Ukraine’s state budget revenue for January–March 2026 amounted to 1.02 trillion UAH, including 734.6 billion UAH from the general fund, representing increases of 10.2% and 26.3% respectively compared with the previous year, the Ministry of Finance reported, citing provisional data from the State Treasury.
Cash expenditure from the general fund over the three months rose by 7.1% to UAH 914.8 billion, whilst total budget expenditure, including the special fund, fell by 1.1% to UAH 1.15 trillion.
Actual revenues to the general fund of the state budget from taxes and fees controlled by the State Tax Service of Ukraine (STS) amounted to UAH 1 trillion 246 billion in January-December 2025, which is 20.2% or UAH 209.3 billion more than last year, according to a publication on the institution’s website.
According to the STS, despite an increase in planned indicators during the year by more than UAH 100 billion, the annual revenue plan was fulfilled by 97.4%.
According to the acting head of the State Tax Service, Lesya Karnaukh, quoted in the report, the stable over-fulfillment of targets during the first half of the year created the necessary financial reserve, which made it possible to avoid significant shortfalls at the end of the year.
It is noted that in the structure of the main sources of budget revenues for the 12 months of 2025, the largest share was provided by personal income tax and fees, which amounted to UAH 362.9 billion. Value added tax (including budget refunds) brought UAH 306.5 billion to the budget, and corporate income tax brought UAH 284.7 billion. In addition, excise tax revenues amounted to UAH 163.9 billion, while rent payments provided UAH 48.4 billion.
Karnaukh separately highlighted the dynamics of VAT budget refunds, which totaled UAH 179.6 billion for the year. At the same time, the monthly refund rate during the year was not less than UAH 13 billion.
“Today, businesses have to reorient significant financial resources and invest in recovery and relocation. I am grateful to everyone who does not give up,” said the acting head of the State Tax Service.
She also added that the achievement of these indicators in the context of war, shelling, and energy challenges is the result of the responsibility of each taxpayer.
The 2026 state budget provides for UAH 298.8 billion in funding for the Ministry of Education and Science of Ukraine.
“The Verkhovna Rada of Ukraine has approved the state budget for 2026. The document provides for a significant expansion of investment in human capital: UAH 298.8 billion is allocated for education and science, which is UAH 85.4 billion more than in 2025,” the Ministry of Education said in a statement.
Key areas of funding include: education — UAH 278.7 billion (+UAH 79.8 billion by 2025); educational infrastructure and investment projects — UAH 17 billion, including UAH 6.2 billion for shelters in schools and kindergartens; free school meals — UAH 14.4 billion to provide meals for 3.5 million students in grades 1–11; textbooks — UAH 2.1 billion is allocated for the purchase of textbooks for grades 4 and 9; scholarships for students — UAH 6.6 billion.
It is also planned to allocate UAH 19.9 billion to science, in particular, almost UAH 3 billion for basic funding of universities and scientific institutions based on the results of state certification; UAH 998 million for research centers of advanced experience; UAH 100 million for a new competition for applied developments in partnership with business; UAH 300 million for competitive research.
“Education and science remain among the key priorities of the state in 2026. The increase in funding demonstrates that Ukraine is consistently investing in human potential, technological strength, and future sustainability — the foundation of our victory and development,” the ministry emphasized.
As reported, the 2024 state budget allocated UAH 171.2 billion to finance education, while the 2025 state budget allocates UAH 197.3 billion to finance education.
The Law “On the State Budget of Ukraine for 2026,” which the Verkhovna Rada adopted on December 3, provided for an increase in expenditures to support the agricultural sector by almost 47% compared to the previous year, or by UAH 4.5 billion, to UAH 14.1 billion, according to the Ministry of Finance.
According to the report, the 2026 state budget provides for UAH 9.5 billion to finance subsidies per hectare for frontline territories, insurance of agricultural products, and UAH 0.2 billion of this amount for irrigation/land reclamation.
The 2026 state budget provides for support for farmers (loans, subsidies per 1 hectare, subsidies for cows, goats, and sheep) in the amount of UAH 2.6 billion. The government has allocated UAH 2 billion for the humanitarian demining of agricultural land.
In addition, the state budget provides for the replenishment of the “Affordable Loans 5-7-9%” entrepreneurship development fund with UAH 18 billion, the innovation fund with UAH 7.4 billion, and business support programs with UAH 4.9 billion to support business. UAH 1.9 billion and UAH 0.6 billion will be allocated to the decarbonization and energy efficiency fund, respectively.
