The Minister of Finance presented to the Parliament of Ukraine a Report on the Execution of the State Budget 2019

Today, June 18, Sergii Marchenko, the Minister of Finance of Ukraine, presented a report on the implementation of the Law of Ukraine "On the State Budget of Ukraine for 2019" at a session of the Parliament.

"The state budget was executed on revenues by UAH 998.3 billion, which is 7.6% more than in the year 2018. The expenses amounted to UAH 1,075.1 billion, which is 9.1% more than a year earlier. The deficit was UAH 81 billion, which corresponds to 2% of GDP, " - Sergii Marchenko said during the presentation.

State budget revenues were executed by 99.1% of the annual figure approved by the Parliament of Ukraine due to:

• reduction of tobacco production;
• exemption from VAT for solar panels starting from January 2019;
• introduction from June 1, 2019 by the Government of the Russian Federation of issuing permits for export to Ukraine of coal, gasoline, diesel fuel and liquef8ied gases;
• strengthening the hryvnia exchange rate.

Regarding expenses, the Minister emphasized that the Government's policy in 2019 concerning the financing of all necessary protected items of expenses - for national security and defense, public debt service, as well as a number of other expenses, contributed to the development of the economy and welfare of Ukrainian citizens.

"The balanced policy of the Government has made it possible to keep the actual budget deficit at 2% of GDP with a plan of 2.26% of GDP. The reduction of the state and state-guaranteed debt has been ensured from 60.9% of GDP at the end of 2018 to 50.3% of GDP at the end of 2019,” – said the Minister Sergii Marchenko.

The report on the implementation of the Law of Ukraine "On the State Budget of Ukraine for 2019" can be downloaded at the link.