The state budget deficit of Ukraine in June 2023 increased to 135.1 billion UAH from 88.3 billion UAH in May and 32.6 billion UAH in April, according to the website of the Ministry of Finance on Tuesday.
It specified that the general fund deficit increased to 130.8 billion UAH from 91.6 billion UAH in May and 65.6 billion UAH in April.
The Ministry of Finance, referring to the operational data of the State Treasury, said that the cash expenditures of the state budget in June increased slightly – to 376.4 billion UAH from 364.7 billion UAH in May and 295.8 billion UAH in April.
They even slightly decreased to 264.7 billion UAH from 277.7 billion UAH in May, which, however, is more than 229.7 billion UAH in April.
As pointed out by the Ministry of Finance, in June 2023 the receipts to the general fund of the state budget decreased to 133.7 billion UAH from 184 billion UAH in May and 162.8 billion UAH in April.
At the same time, international grant aid provided by the USA amounted to 44.4 billion UAH, approximately the same as in the previous two months.
In general, in January-June this year, cash expenditures of the state budget reached UAH 1 trillion 784.3 billion, including general fund – UAH 1 trillion 407.6 billion, or 93.5% of budget expenditures against 95% in May, while state budget revenue was UAH 1302.2 billion, of which UAH 269.4 billion was grant international aid.
During those six months, the state budget was executed with a deficit of UAH 476.3 billion, including the general fund deficit of UAH 532.7 billion against the planned schedule of the general fund deficit of UAH 931.8 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 – respectively 3 trillion 75.9 billion UAH and 2 trillion 783.4 billion UAH.
The limit of the state budget deficit measures is set at 1 trillion 719.7 billion UAH, including the general fund – 1 trillion 543.9 billion UAH. It is assumed that it will be financed almost entirely by foreign borrowing of $42 billion.
The Ministry of Finance specified that the value added tax (VAT) from goods produced in Ukraine in June brought 17.5 billion UAH compared to 17.3 billion UAH in May, while VAT refund increased from 9.9 billion UAH to 10.3 billion UAH.
Import VAT added another 28.7 billion UAH to the budget (28.5 billion UAH in May), personal income tax and military levy 15 billion UAH (14.1 billion UAH), royalties for using mineral resources 4.5 billion UAH (4.5 billion UAH) and corporate income tax 2.3 billion UAH (28.5 billion UAH). Excise tax brought another 8.8 billion UAH (9.5 billion UAH) to the state budget, and import and export duties 2.6 billion UAH (2.5 billion UAH).
It is specified that the tax authorities exceeded the budget by 1.1%, or 8.4 billion UAH, while the State Customs Service – by 6.8%, or 2 billion UAH.
Receipts of ERUs to the Pension Fund and social insurance funds in June 2023 rose to 42.6 billion UAH from 38.5 billion UAH in May, added the Ministry of Finance.
According to him, the actual state borrowing in the general fund of the state budget in June 2023 decreased slightly – to 140.2 billion UAH from 142 billion UAH in May and 193.4 billion UAH in April, and a total of 879.1 billion UAH for six months, or 82.9% of the plan.
Particularly, UAH 285.7 billion (UAH 45.4 billion in June) were received from placement of government bonds, including UAH 97.4 billion (UAH 17.1 billion) in foreign currency, or $1963.8 million and EUR640.9 million (June – $319.7 million and EUR136 million).
Credit proceeds from external sources for six months amounted to UAH 593.4 billion, including UAH 94.8 billion in June (EUR 73.4 billion in May). The main volume was provided by EU macrofinancial aid – UAH 357 billion and IMF loan – UAH 131.4 billion.
Payments for redemption of public debt in June 2023 decreased to 48.3 billion UAH from 55.1 billion UAH in May, while the service – to 33 billion UAH from 45.7 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.
