bank.gov.ua
Low gas prices and decreased volumes of domestic gas output affected relevant royalty income, the report said.
Ukraine's Finance Ministry says the national budget in February 2020, as was the case in January, failed to receive revenue set for this period due to the difference between actual and forecast macroeconomic indicators, although the lag behind the planned figures decreased.
The reasons are the strengthening of the hryvnia (Ukraine's national currency), lower import volumes in the U.S. dollar equivalent, lower natural gas prices, and a slower increase in average wages than it was stipulated in the 2020 national budget, the ministry said on its website on February 29.
Low gas prices and decreased volumes of domestic gas output affected relevant royalty income, the report said.
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In addition, slow growth in wages was behind the failure to fulfill the budget targets with regard to revenue from individual income and war taxes.
At the same time, revenue, which is within the State Tax Service's responsibility, exceeded the target by 7.1%, mainly due to receipts from the value added tax from goods produced in Ukraine.
As UNIAN reported earlier, Ukrainian national budget's general fund in February 2020 failed to get revenue, accounting for 6.3% of the target.
Ukraine's national budget in January 2020 received UAH 50.726 billion (US$2.1 billion) in revenue, which was 7% down year-over-year and 21.5% below the target set for the month.
The national budget for 2020 foresees UAH 1.096 trillion (US$44.57 billion) in revenue and UAH 1.182 trillion (US$48.07 billion) in spending. The budget deficit is capped at UAH 94.3 billion (US$3.83 billion), and the country's state debt is limited to UAH 2.363 trillion (US$96.1 billion).