​State budget for11 months of 2018: revenue performance is equal to 100.2% of the plan

12/21/18

In the first 11 months of 2018, the state budget revenues increased by UAH 118.8 billion or by 16.4% compared to the same period of 2017 and reached UAH 843.3 billion.

Revenues from the main taxes were above the plan in the period from January till November 2018. For instance, revenues from the VAT charged on imported goods increased by UAH 43.9 billion, revenues from the corporate profit tax increased by UAH 30.9 billion, VAT on manufactured goods including refund from the state budget – increase by UAH 13 billion, personal income tax – increase by UAH 15.1 billion, excise tax – increase by UAH 8.3 billion, revenues from the sale of G4 licenses increased by UAH 7.9 billion.

Revenues of the state budget for the first 11 months of 2018 are equal to 100.2% of the plan. Therefore, the overperformance is equal to UAH 1.8 billion and results from the own budget revenues (+ UAH 15.2 billion), the corporate profit tax (+ UAH 14.5 billion) and the personal income tax (+ UAH 1.2 billion).

The revenues of the general fund of the state budget in this period were equal to UAH 760.8 billion, which is UAH 122.3 billion (19.2%) higher compared to the previous year. The budget allocations for this period were fulfilled by 98.5% with the deficit equal to UAH 11.3 billion.

The main revenue sources for the general fund of the state budget in January-November 2018 included the VAT on manufactured goods including refund from the state budget (UAH 70.9 billion, which is UAH 13 billion or 22.4% higher compared to the same period of 2017), VAT on imported goods (UAH 269.1 billion, which is UAH 43.9 billion or 19.5% higher compared to the previous year), the corporate profit tax (UAH 94 billion, which is UAH 31.4 billion or 50.1% higher compared to the previous year) and the personal income tax (UAH 81.7 billion, which is UAH 15.1 billion or 22.6% higher compared to the previous year).

At the same time, revenues from the excise tax went down by UAH 8.7 billion (10%), which is due to increased transfers to the special revenue fund of the excise tax on petroleum products and vehicles. Revenues from the rent fee for the use of sub-soil resources decreased by UAH 4.1 billion (10.5%).

The VAT refund increased by UAH 12.9 billion (11.9%) to reach UAH 121.6 billion.

The state budget expenses in January-November 2018 increased by 17.1% (UAH 123.4 billion) to reach UAH 843.3 billion. The state budget expenses – without the costs to serve the public debt – increased by UAH 119 billion (19.4%).

The expenses of the general fund of the state budget increased by UAH 108.6 billion compared to last year and reached UAH 769.6 billion.

The general fund expenses for salaries including additional payments increased by UAH 33.6 billion (29.3%) and reached UAH 148.3 billion. Social spending (pensions, social aid, scholarships) increased by UAH 15.7 billion (12.3%) to UAH 142.9 billion.

The transfer from the state budget to the State Pension Fund was equal to UAH 128.6 billion, which is UAH 14.6 billion (12.8%) higher compared to 2017. The respective budget allocation was thus fulfilled by 100%.

Transfers from the state budget to local budgets amounted UAH 270.2 billion, which is UAH 32 billion (13.4%) higher compared to the previous year. They include social welfare subventions (UAH 114 billion), education subventions (UAH 54.8 billion), healthcare subventions (UAH 55.3 billion) as well as the basic dotation aimed to enhance the tax capacity of local budgets (UAH 7.5 billion).

The state budget deficit in the reporting period is equal to UAH 183.6 million.

State budget revenues from the privatization of state property were equal to UAH 175 million.

You can mark the parts of text you like, which will be available at the link in the address bar of your browser

You can mark the parts of text you like, which will be available at the link in the address bar of your browser