The Treasury warned of a “hole” in the state budget in the amount of UAH 14 billion

Казначейство предупредило о «дыре» в госбюджете в размере 14 миллиардов гривен

The revenues of the state budget of Ukraine for the first half of 2018 made 463,18 billion, lagging behind the planned figures increased to 14.3 billion hryvnia, or 3.1%.

About it reports “Interfax-Ukraine” with reference to data of the State Treasury service.

Compared to the first half of last year, achieved revenue growth of 13.7%.

Revenues to the General Fund in January-June 2018 amounted to 409,45 billion, which is 3.5% below plan, but 20.9% better than the January-June 2017.

The state Treasury said that budget revenues in June 2018 amounted to 79,33 billion by 10.98 billion, or 12.2%, less than the planned target. According to him, compared with June last year budget revenues increased by 10.19 billion, or 14.7 percent.

The General Fund received last month 71,78 billion, which is 13.6% less than planned and 13% more than a year ago.

As stated in the materials of the state Treasury, the tax revenues for the six months of 2018 brought the budget 190,22 billion UAH, which is UAH 1.96 bln, or 1%, more than the planned target, while the customs – 150,07 billion, short of 5.07 billion, or 3.3% to plan.

Compared to the first six months of last year tax figures this year have increased by 17.2%, customs by 8.7%.

The State fiscal service failure to plan for income to explain the higher rate of the hryvnia compared to prescribed in the state budget.

In June, income taxes amounted to 25,71 billion, which is 8.7% above the expected level and 24.2% better than June 2017.

The customs receipts for June was 5.7% below the planned level – 24,42 billion, exceeding the previous year’s figure of just 4.2%.

In General, the June plan for SFS has been exceeded relative to planned performance by 1.2%. Income was $ 50,13 billion UAH, which is better index Jun-2017 6 billion, or 13.6%.

As explained by the state Treasury, for the first half of this year, VAT was refunded in the amount of 64,43 billion UAH, which is by 13.1% more than in the first half of 2017.

Including the June compensation made up 9.63 billion compared to UAH 11.2 billion in may and UAH 9.1 billion in June last.

Revenues of local budgets in June 2018, has amounted to 18,61 billion, which is 10.9% more than last year, and overall for the first half of local budgets received 111,65 billion UAH, which is by 16.4% more than six months last year.

According to the Treasury, revenues from the single social contribution in June 2018 increased by June 2017 26.6% – to 21.12 billion UAH, and for the half – year by 27.8%, to 107,73 billion.

As you know, December 7, Verkhovna Rada adopted the bill on state budget for 2018.

In the amended bill compared to the bill submitted for first reading, revenues increased by 36.57 billion (or 4.2%).

Expenses increased by 40.5 billion (or 4.3%).

The budget deficit increased by UAH 3.9 bn, the coating of which is provided specefically. Just from specefication pledged 4.7 billion USD revenue.

Budget revenues in 2018 is set at 917,9 billion UAH, expenditures — at the level 991,7 billion.

In 2018, the head of the State Treasury service of Ukraine Tetiana sliuz said that in 2017 Ukraine was planning to repay debts on foreign loans with the help of the IMF tranche. However, the absence of tranche forced the Ministry of Finance to borrow funds in the domestic market.

“Last year we foreign borrowings is not fulfilled, because all were hoping for the international monetary Fund, but this has not happened. Therefore, the Ministry of Finance of Ukraine within the legal field the difference that we needed to cover the deficit of the debt, and took borrowing in the domestic market. Borrowings are made in UAH and in foreign currency – dollars, euros and the like,” she said.

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