Ukraine’s state budget revenues in April 2025 amounted to UAH 336.2 billion, including UAH 274.7 billion from the general fund, which is 65.2% and 77.7% more than in April 2024, according to preliminary data from the State Treasury published on the Ministry of Finance website on Monday.
The agency specified that value added tax (VAT) on goods produced in Ukraine in April this year brought in UAH 27.6 billion compared to UAH 23.2 billion last year, while VAT refunds increased to UAH 13.0 billion from UAH 12.0 billion.
Import VAT added another UAH 40.6 billion to the budget (UAH 39.3 billion in February 2024), corporate income tax – UAH 5.6 billion (UAH 3.2 billion), personal income tax and military tax – UAH 29.7 billion (UAH 16.8 billion), rent payments for subsoil use amounted to UAH 3.2 billion (UAH 5.3 billion). Excise tax brought in another UAH 24.2 billion (UAH 17.3 billion), import and export duties amounted to UAH 4 billion (UAH 4 billion).
Revenues from the Unified Social Tax to the Pension Fund and social insurance funds in April this year increased to UAH 54.9 billion from UAH 44.4 billion last year, the Ministry of Finance added.
It is noted that the State Tax Service exceeded the monthly revenue target by 14.3%, or UAH 10.4 billion, while the State Customs Service fell short by 8.0%, or UAH 4.6 billion.
In addition, in April 2025, the general fund of the state budget received UAH 63.9 billion from the National Bank of Ukraine, which transferred part of its profits to the state budget, and UAH 69.2 billion in international aid (grants), while in April last year these revenues amounted to UAH 38.6 billion and UAH 2.7 billion, respectively.
In total, over the first four months of this year, Ukraine’s state budget revenues amounted to UAH 1 trillion 262.4 billion, including UAH 856.3 billion in the general fund, which is 49.3% and 37.3% more than in 2024, respectively. Among other things, international assistance in the form of grants increased more than fourfold, from UAH 40.3 billion to UAH 167 billion.
The Ministry of Finance also indicates that actual government borrowing to the general fund of the state budget in January-April 2025 amounted to UAH 604.0 billion, or 104.0% of the planned amount for this period, while in the same period last year, it amounted to UAH 564.1 billion, or 96.5% of the plan.
At the same time, the placement of government bonds increased to UAH 154.0 billion from UAH 143.3 billion, while in foreign currency it even decreased to $642.0 million and EUR188.8 million from $749.5 million and EUR552.1 million last year. In addition, sales of military government bonds fell to UAH 77.3 billion from UAH 111.4 billion.
External sources provided UAH 450.0 billion (or about $10.8 billion) in the first four months of this year, compared with UAH 420.8 billion ($10 billion) in the first four months of last year.
Payments on state debt repayment for January-April 2025 increased to UAH 225.2 billion compared to UAH 146.7 billion for January-April 2024, and service payments increased to UAH 92.5 billion from UAH 64.5 billion.
As reported, the 2025 state budget was approved with revenues of UAH 2 trillion 327.1 billion, including the general fund of UAH 2 trillion 133.3 billion (excluding grants and international aid), and expenditures of UAH 3 trillion 929.1 billion, including the general fund – 3 trillion 591.6 billion UAH.
According to the Ministry of Finance, in 2024, the state budget received 3 trillion 120.5 billion UAH in revenues, which is 448 billion UAH, or 16.8%, more than the 2023 state budget. The general fund’s revenue grew by 513.9 billion UAH, or 30.9%, to 2 trillion 177 billion UAH, including international financial assistance in the form of grants amounting to 453.6 billion UAH compared to 433.9 billion UAH 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, including the general fund increased by 15%, or UAH 454.5 billion, to UAH 3 trillion 488.8 billion.
