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The deficit of Ukraine's consolidated budget in January-May 2016 amounted to UAH 3.779 billion against a surplus of UAH 19.394 billion in the same period last year.
According to Finance Ministry's data, the consolidated budget revenues in January-May increased by 12.2% year-over-year (y-o-y) to UAH 280.104 billion, while expenses grew by 23.6% to UAH 283.777 billion.
According to the data, Ukraine saw a state budget deficit of UAH 26.447 billion in the first five months of 2016, as compared to a surplus of UAH 5.610 billion in the same period last year.
The state budget revenues in January-May increased by 7% y-o-y to UAH 219.227 billion, expenses were up by 23.6% to UAH 245.599 billion.
Read alsoUkraine should abandon commodity-based economy, create conditions for investment – GroysmanAs UNIAN reported earlier, revenues of the general funds of Ukraine's local budgets, excluding transfers, in January-May of 2016 amounted to UAH 53.9 billion, which was 48.8%, or UAH 17.7 billion, up on the same period last year (in comparable conditions).
Ukraine posted a state budget deficit of UAH 45.2 billion in 2015. The annual deficit amount was lower by UAH 32.9 billion as compared to a deficit of UAH 78.1 billion in 2014.
On December 25, 2015 the Verkhovna Rada of Ukraine adopted the 2016 state budget according to which the deficit would not exceed 3.7% of GDP and revenues would reach UAH 595 billion.