Ukraine's budget revenue declines by 7% in Jan

The decrease was due to lower customs incomes.

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Revenue of Ukraine's national budget in January 2020 totaled UAH 50.726 billion (US$2.06 billion), which was UAH 3.825 billion (US$156 million), or 7%, lower year-over-year.

The decrease was due to lower customs incomes, the State Treasury said on its website.

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What is more, the budget in January 2020 fell short of UAH 13.860 billion (US$564 million) in revenue, or by 21.5%, compared to the planned indicator.

As UNIAN reported earlier, the revenue of the national budget's general fund in January 2020 amounted to UAH 42.6 billion (US$1.73 billion), which was 25% lower than the planned figure for this period, the Finance Ministry said.

The main causes behind the shortfall of budget revenue were a significant changes in macroeconomic indicators, including the strengthening of the hryvnia (UAH 24.1 against UAH 27 per dollar), as well as lower imports by 2.5% and lower gas prices, the ministry said.

The national budget for 2020 foresees UAH 1.096 trillion (US$44.59 billion) in revenue and UAH 1.182 trillion (US$48.09 billion) in spending. The budget deficit is capped at UAH 94.3 billion (US$3.84 billion), and the country's state debt is limited to UAH 2.333 trillion (US$94.9 billion).

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