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General Fund of State Budget Received UAH 101.3 billion of Revenues In May 2022

01 June 2022

According to the preliminary data of the State Treasury Service of Ukraine, in May 2022, the general fund of the state budget received UAH 101.3 billion of revenues. 

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

  • corporate profit tax - UAH 19.6 billion;
  • value-added tax on goods produced in Ukraine - UAH 18.3 billion;
  • fee for the use of mineral resources - UAH 11.7 billion;
  • personal income tax and military fee - UAH 11.1 billion;
  • value-added tax on goods imported into the customs territory of Ukraine - UAH 8.8 billion;
  • excise tax on goods imported into the customs territory of Ukraine - UAH 7.9 billion.

Receipts of a single fee on obligatory national social insurance in the pension fund and social insurance funds in May of 2022 amounted to UAH 33.5 billion. 

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. 

Thus, according to the preliminary data of the State Treasury Service of Ukraine in January-May 2022, cash expenditures of the general fund of the state budget were carried out according to the plan and amounted to UAH 740 billion, or 74.4% of the plan for the reporting period.

In May, the deficit of the general fund of the state budget amounted to UAH 113.4 billion compared with a planned deficit of UAH 209 billion. The general fund of the state budget in January-May 2022 was executed with a deficit of UAH 270.8 billion, while the planned deficit for this period was UAH 526 billion. The overall state budget for the first 5 months of 2022 was executed with a deficit of UAH 263.2 billion.

Actual state borrowings to the general fund of the state budget for January-May 2022 amounted to UAH 376.6 billion.

UAH 225.5 billion, including UAH 17.7 billion in foreign currency (USD 356.4 million and EUR 233.7 million) was attracted for the financing of the state budget from the placement of domestic government bonds.

UAH 151.1 billion was attracted from the external sources:

  • UAH 0.1 billion (USD 34.5 million) from the IBRD loan within the framework of the project "Acceleration of Investment in Agriculture of Ukraine" (No 8973-UA dated August 27, 2019).
  • 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” (No 9196-UA dated December 14, 2020).
  • 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" (No 9315-UA dated 17 May, 2021);
  • UAH 0.1 billion (USD 4.9 million) receipt of IBRD loan funds under the project "Emergency Response to COVID-19 and Vaccination in Ukraine" (No 9250-UA dated 17 May, 2021);
  • 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 (No 82.844 dated December 24, 2014);
  • 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" (No 9366-UA, 9367-UA dated March 8, 2022);
  • UAH 2.7 billion (USD 91.4 million) receipt of the IBRD loan funds within the framework of the project "Second Additional Financing for COVID-19 Reagent and Vaccination in Ukraine" (9369-UA dated March 8, 2022);
  • UAH 12.6 billion (EUR 382.0 million) receipt of the EIB loan funds under the project "Main loan for the agricultural sector" (No 85.055 dated December 28, 2015);
  • UAH 9.7 billion (EUR 300.0 million) of the loan funds of the French Development Agency;
  • UAH 2.9 billion (USD 100.0 million) receipt of IBRD loan funds under the project "Improving Higher Education in Ukraine for Results" (No. 9238-UA of December 13, 2021);
  • 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" (Agreement of April 7, 2022);
  • 3.0 billion UAH (JPY 13.0 billion) of receipt of funds from the loan of the Japan Development Agency for the development policy in the sphere of emergency economic rehabilitation (No UKR-C3 of May 16, 2022).

Public debt repayments in January-May 2022 totaled UAH 169.3 billion, and debt service payments amounted to UAH 75.0 billion.

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