State budget deficit exceeds UAH 676 billion - Ministry of Economy
Kyiv • UNN
As of August 2024, Ukraine's state budget deficit amounted to UAH 676.4 billion, or 34.9% of revenues. Budget revenues, including international assistance, amounted to UAH 1935.6 billion, which is 17% more than last year.
As of August 2024, the state budget deficit of Ukraine amounted to UAH 676.4 billion, which is 34.9% of total budget revenues, and the amount of budget revenues, including partner assistance, amounted to UAH 1935.6 billion. This was reported by UNN with reference to the report of the Ministry of Economy.
Details
The Ministry of Economy reported that state budget revenues, including international financial assistance, are growing and amounted to UAH 1935.6 billion in January-August 2024. In the same period last year, budget revenues amounted to UAH 1655.6 billion.
It is noted that, excluding international financial assistance, revenues also increased by 24.5% and amounted to UAH 1666.4 billion, while last year they amounted to UAH 1338.3 billion, respectively.
The Ministry of Economy explained that this growth is due to the intensification of economic activity of enterprises. In particular, income tax revenues increased by 1.9 times, excise tax on excisable goods imported into Ukraine by 35.5%, other non-tax revenues by 35.9%, and taxes on international trade and foreign operations by 23.7%.
The Ministry of Economy also notes that the state budget deficit amounted to UAH 676.4 billion, or 34.9% of total state budget revenues. In the same period last year, the state budget deficit amounted to UAH 716.5 billion, which was 43.3% of total budget revenues.
Recall
Problems with financing the military budget have forced the government to use funds intended for military salaries to purchase weapons in the first quarter of 2024. This will lead to a budget deficit of almost $5 billion by the end of the year.
