Oleksiy Honcharuk / Photo from UNIAN
The price of energy resources, which account for a large share of income from imports, was also low.
Ukrainian Prime Minister Oleksiy Honcharuk has said the Cabinet of Ministers expects that the State Tax Service in February 2020 will fulfill its revenue plan, while the State Customs Service may fail to reach its targets.
Read alsoStrong hryvnia leaves national budget $94 mln short of target in January
"There are no figures for February, because it is not over yet. But we expect that the Tax Service will implement the plan that was set in the budget. As for the Customs Service, we expect a shortfall, primarily due to exchange rate differences since imports in the hryvnia [Ukraine's national currency] are much cheaper. That is, receipts from imported goods are much lower, as is the price of energy resources, which, as a rule, are subject to customs clearance and account for a significant share of the receipts," he said when presenting the government's report in the Verkhovna Rada, Ukraine's parliament, on February 21.
As UNIAN reported earlier, Ukraine's national budget in January 2020 received UAH 50.7 billion (US$2.1 billion) in revenue, which was 7% down year-over-year and 21.5% below the target set for the month.