Revenues of the state budget in January reached UAH 54.5 billion

2/1/19

According to the data of the State Treasury Service of Ukraine, the state budget revenues in January amounted UAH 54.5 billion. The funds available on the State Treasury account on February 1 amounted UAH 11.9 billion.

This month, the VAT refund was record-high and amounted UAH 19.7 billion including – as previously advised by the SFS – UAH 8.7 billion referring to the amount declared in November (based on documentary tax checks). VAT is refunded automatically, even if the refund amount after a tax check exceeds the planned monthly amount. Along with the lower import figures, that resulted in the lower tax revenues to the general fund of the state budget that lagged behind the plan. Thanks to the well-coordinated steps taken by the Ministry of Finance and the State Treasury Service, the expenses planned for January were covered according to the set allocations and payment orders.

In January, the total state budget revenues from the customs clearance of vehicles with foreign plate numbers were equal to UAH 3.1 billion. This month, citizens of Ukraine customs-cleared 48,760 vehicles with foreign plate numbers.

The loans equal to UAH 17.6 billion backed by the World Bank and originally planned for January were postponed to February. To ensure smooth funding for the state budget, the Ministry of Finance made big efforts to replace these external loans with domestic ones. In January, the Ministry of Finance placed domestic bonds equal to UAH 41.7 billion (including bonds nominated in hryvnas equal to UAH 24.4 billion and bonds nominated in foreigh currency equal to USD 587.4 million and EUR 33.3 million).

More detailed information on the state budget performance is available on the website of the State Treasury Service.

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