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The national budget for 2018 set a goal of UAH 917.9 billion ($33.4 billion) in total revenue.
The Ukrainian national budget's general fund in 2018 received UAH 716.6 billion (US$26.1 billion) in tax revenue, which was UAH 8.1 billion ($295 million) down from the projected figure.
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"Several key factors affected tax collection: early payment of [crude oil and natural gas] royalties (UAH 4.8 billion/$174.9 million laid down in the plan for 2018 was paid in December 2017); a decline in tobacco production (by 10.1% in the eleven months of 2018); actual fuel prices were lower than those projected in the national budget; insufficient devaluation of the hryvnia (the national currency); and lower volumes of natural gas imports," the Ukrainian Finance Ministry's press service said in a statement on January 2.
In addition, VAT refunds were higher than the projected ones. Moreover, tax revenue of the national budget was adjusted as UAH 3.2 billion ($117 million) was given to local budgets for road repairs.
As UNIAN reported earlier, the national budget of Ukraine for 2018 set a goal of UAH 917.9 billion ($33.4 billion) in total revenue and UAH 991.7 billion ($36.1 billion) in expenditures. The budget deficit was capped at UAH 80.6 billion ($2.9 billion), or 2.4% of GDP.