General Fund of State Budget Received UAH 184 billion of Revenues in May 2023

According to the preliminary data of the State Treasury Service of Ukraine, in May 2023, the general fund of the State Budget received UAH 184 billion in revenues.

The main sources of the State Budget revenues were the following:
corporate profit tax – UAH 28.5 billion;
value-added tax on goods imported into the customs territory of Ukraine – UAH 27 billion;
value-added tax on goods produced in Ukraine – UAH 17.3 billion (UAH 27.2 billion collected and UAH 9.9 billion reimbursed);
personal income tax and military fee – UAH 14.1 billion;
excise tax on goods imported into the customs territory of Ukraine - UAH 9.5 billion;
fee for the use of mineral resources – UAH 4.5 billion;
import and export duty – UAH 2.5 billion.

The State Tax Service performed its monthly revenue plan by 109.1% (+ UAH 8.4 billion).

Another important source of State Budget revenues in May was international assistance (grants) which amounted to UAH 45.7 billion at the end of the month. The funds were received from the United States of America.

In May, the general fund of the State Budget received UAH 24.2 billion in dividends from JSC CB PrivatBank. On April 28, 2023, in accordance with the Law of Ukraine "On Banks and Banking", the government adopted a resolution of the Cabinet of Ministers of Ukraine "Some Issues of the Activities of the Joint Stock Company Commercial Bank PrivatBank", which approved the annual report of PrivatBank and provided for the allocation of UAH 24.2 billion to pay dividends to the State Budget.

January-May 2023:
According to the preliminary data of the State Treasury Service of Ukraine, in January-May 2023, the general fund of the State Budget received UAH 735.7 billion in revenues.

The main sources of the State Budget revenues were the following:
value-added tax on goods imported into the customs territory of Ukraine – UAH 132.9 billion;
value-added tax on goods produced in Ukraine – UAH 70.7 billion (UAH 132.4 billion collected and UAH 61.7 billion reimbursed);
corporate profit tax – UAH 65.6 billion;
personal income tax and military fee – UAH 65.2 billion;
excise tax on goods imported into the customs territory of Ukraine - UAH 41.4 billion;
fee for the use of mineral resources – UAH 25.4 billion;
import and export duty – UAH 11.8 billion.

At the same time, the State Tax Service performed its revenue plan by 103.4% (+ UAH 9.9 billion), and the State Customs Service - by 102.2%, or + UAH 9.5 billion.

In January-May, Ukraine received international assistance (grants) in the amount of UAH 225 billion. The largest donor of grant support in January-May 2023 was the United States of America (UAH 219 billion). Ukraine also received non-refundable funding from Germany, Spain, Finland, Ireland, Switzerland, Belgium, and Iceland totaling up to UAH 6 billion. The funds were directed to the State Budget of Ukraine through the World Bank Trust Fund under the PEACE project.

Receipts of a single fee on obligatory national social insurance in the pension fund and social insurance funds in January-May 2023 amounted to UAH 181.7 billion, and UAH 38.5 billion was received in May.

In five months of this year, the general and special funds of the State Budget received UAH 1060.9 billion in taxes, fees and other payments.

According to the preliminary data of the State Treasury Service of Ukraine in January-May 2023, the expenditures of the State Budget amounted to UAH 1,407.9 billion, or 95% of the plan for the reporting period.

In January-May 2023, the State Budget deficit amounted to UAH 341.2 billion, including the general fund in the amount of UAH 401.9 billion, compared with the planned deficit of the general fund of UAH 713.9 billion for this period.

Actual state borrowings to the State Budget's general fund in January-May 2023 amounted to UAH 738.9 billion.

UAH 240.3 billion, including UAH 80.3 billion in foreign currency (USD 1,644.1 million and EUR 504.9 million) was attracted for the financing of the State Budget from the placement of domestic government bonds. UAH 101.1 billion was raised due to the issuance of wartime bonds.

Since the beginning of the year, UAH 498.6 billion was attracted from external sources, including:
UAH 297.1 billion (EUR 7.5 billion) of Macro-Financial Assistance in accordance with the Memorandum of Understanding between Ukraine and the EU dated January 16, 2023;
UAH 99 billion (SDR 2 billion) - IMF funds under the four-year Extended Fund Facility program;
UAH 64.2 billion (CAD 2.4 billion) loan from the Government of Canada;
UAH 18.3 billion (USD 499.3 million) loan from the IBRD within the framework of the PEACE project;
UAH 13.6 billion (EUR 341.3 million) loan from the IBRD within the framework of the PEACE project.
UAH 1.3 billion (EUR 33.4 million) - loan from the IBRD loan under the project "Strengthening the Health Care System and Saving Lives";
UAH 4.8 billion (USD 132.0 million) - loan from the IBRD loan under the project "Accelerating Investment in Agriculture in Ukraine";
UAH 0.2 billion (USD 6.0 million) - loan from the IBRD loan under the project "Additional Financing of the People-Centered Health Improvement Project".
Public debt repayments in January-May 2023 totaled UAH 197.8 billion, and debt service payments amounted to UAH 83.8 billion.

The funds raised from the domestic government bonds in January-May 2023 allowed to fully cover the need for funds required to make payments on the redemption of domestic government bonds.