State Budget Execution Update: The Ministry of Finance is Fully Prepared for September Peak Debt Payments

8/5/19

According to the latest data of the State Treasury on the budget execution during seven months of 2019, the revenues of the General Fund of the State Budget amounted to UAH 584.1 billion, which is 97.4% of the planned value.

Despite the high liquidity of the single treasury account and financing of social expenditures in accordance with the registered commitments, the expenditures of the General Fund of the State Budget were lower than planned due to the debt servicing expenses savings through hryvnia strengthening, as well as delays in the
preparation and approval of documents on the part of the key administrators.

According to State Treasury's updated data, the General Fund of the State Budget in January-July 2019 was executed with a deficit of UAH 1.1 billion, while the Special Fund had a surplus of UAH 8.7 billion.

STATE BUDGET INCOME
State budget revenues for the seven months of 2019 increased by 13.7% up to UAH 584.1 billion. Revenue execution was 97.4% of the planned value (compared with 95.7% for the first half of the year). The main reasons behind the indicators that are lower than planned ones: difference in actual macroeconomic indicators and budgeted indicators, including hryvnia exchange rate, introduction of privileges for the import of certain goods, as well as the restriction on the export of a number of goods to Ukraine by the Russian Federation.

Revenues of the General Fund of the State Budget increased by 10.7% up to UAH 516.4 billion. They accounted for 96.0% of the planned indicators (in the first half of the year it amounted to 94.1% of the planned value).

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