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Ukraine's consolidated budget in 2015 recorded a deficit of UAH 30.9 billion against a deficit of UAH 72 billion in the previous year, a 2.3 times decrease, the National Bank of Ukraine (NBU) reported in its January inflation report, published on the regulator's website.
In the first half of the year the increase in budget revenues was largely contributed to inflation and devaluation effects, while in the second half, it was determined by the improvement of tax administration and the stabilization of the economic situation, the NBU noted in its statement.
According to the regulator, the consolidated budget revenues for 2015 increased by 43% year-over-year, while the expenses grew by 29.9%.
Read alsoThirst for money. Turning investment desert into paradiseAs UNIAN reported earlier, last year Ukraine posted a state budget deficit at UAH 45.15 billion, which was lower by 1.5 times than the deficit in the previous year. State budget revenues in 2015 amounted to UAH 534.648 billion, and expenses to UAH 576.848 billion.