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General Fund of State Budget Received UAH 169.6 billion of Revenues In July 2022

01 August 2022

According to the preliminary data of the State Treasury Service of Ukraine, in July 2022, the general fund of the state budget received UAH 169.6 billion of revenues. 

The main sources of the state budget revenues were the following :

  • value-added tax on goods produced in Ukraine - UAH 35.4 billion;
  • value-added tax on goods imported into the customs territory of Ukraine - UAH 20.2 billion;
  • personal income tax and military fee - UAH 13.3 billion;
  • excise tax on goods imported into the customs territory of Ukraine - UAH 7.8 billion;
  • corporate profit tax - UAH 4.8 billion;
  • fee for the use of mineral resources - UAH 3.6 billion;
  • import and export duty - UAH 1.9 billion.

Also, in July, the general fund of the state budget received UAH 80.4 billion in international assistance (grants).

Receipts of a single fee on obligatory national social insurance in the pension fund and social insurance funds in July of 2022 amounted to UAH 34.3 billion. 

Significant changes in the receipts of value-added tax from goods produced in Ukraine, corporate income tax, and customs payments in July were due, in particular, to the following factors:

  • the deadline for the payment of taxes and fees (no later than July 31, 2022) for taxpayers who had the opportunity to timely comply with their tax obligations before the deadlines for paying taxes and fees, submitting reports, but did not comply with them and were exempted from responsibility for late fulfillment of such duties by subsection 69.1 of clause 69 of subsection 10 of chapter XX of the Tax Code of Ukraine;
  • cancelation from July 1, 2022, certain tax benefits for goods imported by single taxpayers, and vehicles imported by citizens.

Following the military invasion of the Russian Federation on February 24, 2022, into the territory of Ukraine, the government immediately took priority measures to reorient the state budget to military purposes and to implement the necessary social expenditures aimed at maintaining the livelihood of the population. 

According to the preliminary data of the State Treasury Service of Ukraine in January-July 2022, the expenditures of the state budget amounted to UAH 1,218.0 billion, including the expenditures of the general fund of the state budget that were carried out according to the plan and amounted to UAH 1,147.7 billion, or 80.7% of the plan for the reporting period.

At the same time, in July 2022, the expenditures of the state budget amounted UAH 182.5 billion, including the general fund - in the amount of UAH 174.5 billion, or 94.9% of the July plan.

In January-July, the deficit of the state budget amounted to UAH 412.0 billion, including the general fund - in the amount of UAH 411.3 billion. In July, the actual deficit of the state budget amounted to UAH 3.7 billion, including the general fund of UAH 4.8 billion.

Actual state borrowings to the general fund of the state budget for January-July 2022 amounted to UAH 613.8 billion.

UAH 402.1 billion, including UAH 44.2 billion in foreign currency (USD 1,066.1 million and EUR 388.3 million) was attracted for the financing of the state budget from the placement of domestic government bonds. At the same time, UAH 344.5 billion was issued due to the issuance of war bonds, including UAH 255 billion by the National Bank of Ukraine.

Since the beginning of the year UAH 211.7 billion was attracted from external sources:

  • UAH 1 billion (USD 34.5 million) from the IBRD loan within the framework of the project "Acceleration of Investment in Agriculture of Ukraine",
  • UAH 1.2 billion (USD 40.0 million) from the IBRD loan within the framework of the project “Second additional financing aimed at overcoming the consequences of the COVID-19 pandemic”,
  • UAH 0.4 billion (USD 15 million) receipt of IBRD loan funds under the project "Additional financing for the project "Emergency Response to COVID-19 and Vaccination in Ukraine".
  • UAH 0.1 billion (USD 5.4 million) receipt of IBRD loan funds under the project "Emergency Response to COVID-19 and Vaccination in Ukraine",
  • UAH 41.3 billion (USD 1.4 billion) receipt of International Monetary Fund funds as part of additional funding under the Rapid Financing Instrument (RFI) emergency support program,
  • UAH 37.1 billion (EUR 1.2 billion) of the EU loan as part of a new package of macro-financial assistance,
  • UAH 8.5 billion (EUR 257.0 million) of the EIB loan proceeds from the APEX project,
  • UAH 14.3 billion. (EUR 0.4 billion) receipt of IBRD loan funds under the project "Additional Loan to the Second Economic Recovery Development Policy Loan",
  • UAH 2.7 billion (USD 91.2 million) receipt of the IBRD loan funds within the framework of the project "Second Additional Financing for COVID-19 Reagent and Vaccination in Ukraine",
  • UAH 12.6 billion (EUR 382.0 million) receipt of the EIB loan funds under the project "Main loan for the agricultural sector",
  • UAH 9.7 billion (EUR 300.0 million) of the loan funds of the French Development Agency,
  • UAH 3.5 billion (USD 120.0 million) receipt of IBRD loan funds under the project "Improving Higher Education in Ukraine for Results",
  • UAH 11.5 billion (USD 3922.88 million) from a loan from the Government of Canada,
  • UAH 4.8 billion (EUR 150.0 million)of proceeds from the loan from KfW (Project "MSME - Covid-19 financing",
  • UAH 0.7 billion (EUR 22.2 million) loan from the International Development Association (Supporting public expenditures to ensure sustainable public administration in Ukraine).
  • UAH 0.7 billion (USD 24.6 million) loan from the IBRD within the framework of the project "Additional financing Modernization of the system of social support of the population of Ukraine",
  • UAH 0.2 billion (USD 7 million) loan from the IBRD within the framework of the project "Additional financing of the project Improving health care at the service of people,
  • UAH 0.9 billion (USD 30 million) loan from the IBRD within the framework of the project Modernization of the Social Support System of the Population of Ukraine,
  • UAH 13.1 billion (EUR 424.6 million) loan from the IBRD within the framework of the project Supporting public expenditures to ensure sustainable public administration in Ukraine,
  • UAH 2.9 billion (USD 99 million) loan from the IBRD within the framework of the project Eastern Ukraine: Reunification, Restoration, Reviva",
  • UAH 4.7 billion (EUR 149.3 million) loan from the Credit Institution for Reconstruction (KfW),
  • UAH 22.8 billion UAH (CAD 585.8 million) loan from the Government of Canada,
  • UAH 17.0 billion (JPY 78.0 billion) loan from the Japan International Cooperation Agency for the development policy in the sphere of emergency economic rehabilitation.

Public debt repayments in January-July 2022 totaled UAH 260.9 billion, and debt service payments amounted to UAH 89.7 billion.

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