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General Fund of State Budget Received UAH 144.1 billion of Revenues in September 2023

03 October 2023

According to the preliminary data of the State Treasury Service of Ukraine, in September 2023, the general fund of the State Budget received UAH 144.1 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 34.5 billion;
  • value-added tax on goods produced in Ukraine – UAH 19.4 billion (UAH 30.1 billion collected and UAH 10.7 billion reimbursed);
  • personal income tax and military fee – UAH 15.2 billion;
  • excise tax on goods imported into the customs territory of Ukraine - UAH 10.9 billion;
  • fee for the use of mineral resources – UAH 6.7 billion;
  • corporate profit tax – UAH 4.2 billion;
  • import and export duty – UAH 2.8 billion.

The State Tax Service performed its monthly revenue plan by 102.4% (+ UAH 1.4 billion) and the State Customs Service by 92.4% (-UAH 3.1 billion).

Another important source of State Budget revenues in September of this year was the funds received by Ukraine in the form of grants from the United States of America, which amounted to UAH 45.7 billion.

January-September 2023:

According to the preliminary data of the State Treasury Service of Ukraine, in January-September 2023, the general fund of the State Budget received UAH 1,274.9 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 261.0 billion;
  • value-added tax on goods produced in Ukraine – UAH 146.4 billion (UAH 248.0 billion collected and UAH 101.6 billion reimbursed);
  • personal income tax and military fee – UAH 125.1 billion;
  • corporate profit tax – UAH 106.1 billion;
  • excise tax on goods imported into the customs territory of Ukraine - UAH 79.9 billion;
  • fee for the use of mineral resources – UAH 46.1 billion;
  • import and export duty – UAH 22.4 billion.

At the same time, the State Tax Service performed its revenue plan by 102.4% (+ UAH 12.6 billion), and the State Customs Service by 97.1% (-UAH 8.4 billion).

The next important source of State Budget revenues in January-September was the funds received by Ukraine in the form of international assistance (grants) - UAH 362.9 billion.

The largest donor of grant support in January-September 2023 was provided by the United States of America (UAH 356.5 billion). Ukraine also received non-refundable funding from Germany, Spain, Finland, Ireland, Switzerland, Belgium, and Iceland totalling up to UAH 6.4 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-September 2023 amounted to UAH 343.3 billion, and UAH 41.4 billion was received in September.

In January-September 2023, the general and special funds of the State Budget received UAH 2,013.5 billion in taxes, fees and other payments.

According to the preliminary data of the State Treasury Service of Ukraine in January-September 2023, the expenditures of the State Budget amounted to UAH 2,821.8 billion, including UAH 2.117.9 billion of the general fund, or 93% of the plan for the reporting period

In January-September 2023, the State Budget deficit amounted to UAH 801.6 billion, including the general fund in the amount of UAH 835.4 billion, compared with the planned deficit of the general fund of UAH 1,384.7 billion for this period.

Actual state borrowings to the State Budget's general fund in January-September 2023 amounted to UAH 1,219.4 billion.

UAH 388.2 billion, including UAH 120.6 billion in foreign currency (USD 2,525.7 million and EUR 709.3 million) was attracted for the financing of the State Budget from the placement of domestic government bonds. UAH 183.2 billion was attracted through to the issuance of wartime bonds.

Since the beginning of the year, UAH 831.2 billion was attracted from external sources, including:

  • UAH 536.0 billion (EUR 13.5 billion) of Macro-Financial Assistance in accordance with the Memorandum of Understanding between Ukraine and the EU dated January 16, 2023;
  • UAH 131.4 billion (SDR 2.7 billion) of 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 54.9 billion (USD 1.5 billion) of IBRD development policy loan;
  • UAH 18.3 billion (USD 500 million) loan from the IBRD within the framework of the PEACE project;
  • UAH 3.7 billion (USD 100.0 million) of the IBRD loan under the Fifth Additional Financing of the project PEACE project;
  • UAH 16.1 billion (EUR 404.3 million) loan from the IBRD within the framework of the PEACE project;
  • UAH 4.8 billion (USD 132.0 million) loan from the IBRD loan under the project Accelerating Investment in Agriculture to Ukraine;
  • UAH 1.7 billion (EUR 42.3 million) loan from the IBRD loan under the project HEAL Ukraine;
  • UAH 0.2 billion (USD 6.0 million) loan from the IBRD loan under the project Additional Financing for the Serving People, Improving Health.

Public debt repayments in January-September 2023 totalled UAH 350.3 billion, and debt service payments amounted to UAH 172.2 billion.

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

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