The general fund of the State Budget of Ukraine received UAH 63.9 bn  in May 2020

In May 2020 Ukraine began the gradual ease of quarantine measures that will lead to the improvement of the economic situation. According to preliminary data of the State Treasury Service of Ukraine in May 2020 the general fund of the state budget received UAH 63.9 bn (more than USD 2.4 bn) which means that the monthly plan now is 100% fulfilled. VAT reimbursement amounted to UAH 12 bn.

The main trends in tax revenues in May 2020 are the following:
•    Personal income tax revenue plan is overperformed by UAH 0.1 bn.
•    The revenue plan from the fee for the use of mineral resources is overperformed by 14.7% or by UAH 0.3 bn.
•    Excises' revenue plan is overperformed by 21.4%, which is by UAH 1.1 bn mostly due to tax revenues from the tobacco industry.
•    The VAT plan is fulfilled by 99.8%, which means UAH 0.1 bn less than was planned.
•    The corporate tax plan is fulfilled by 97.2%, which means UAH 0.5 bn less than was planned.

Considering the performance of the state budget in January-April (86.1% of the plan), the current state budget's plan fulfillment status is 88.4%.

In January-May, social expenditures, security and defense expenditures, debt service and subsidies to local budgets were fully financed in accordance with the plan and on the basis of payment orders. Thus, expenditures on the general fund of the state budget for 5 months of 2020 amounted to UAH 392.8 billion, or 83.4% of the plan of the reporting period.

In January-May, the state budget was executed with a deficit of UAH 47.8 billion, including the general fund's deficit of UAH 52.2 billion, which is within the planned amount for this period.

The government borrowings in January-May 2020 amounted to UAH 160.9 bn (69.9% of the plan).

The funds raised to the state budget from the placement of the domestic government bonds amounted to UAH 125.3 bn (100% of the planned amount), including UAH 51.1bn equivalent attracted from selling domestic bonds issued in foreign currency (USD 1.6 bn and EUR 0.3 bn). 

UAH 35.6 bn are the borrowings from the external sources. Most of it (UAH 33.9 bn) comes from 10-year Eurobonds. During the January-May period, state debt redemption payments amounted to UAH 114.6 bn (84.9% of the plan), debt service payments amounted to UAH 53.8 bn (90.7% of the plan).