REUTERS
The surplus of Ukraine's national budget in January 2017 was estimated at UAH 15.754 billion, which was six times higher than the surplus recorded in January 2016 at UAH 2.452 billion, according to Ukraine's Treasury Service.
The consolidated budget, which consists of the national and local budgets, saw a surplus of UAH 25.018 billion, which was 2.8 times up year-over-year (UAH 9.023 billion).
The surplus of the local budgets alone was estimated at UAH 9.263 billion in January.
Read alsoPoroshenko: Ukraine to spend over $333 mln on new weapons in 2017As the Treasury Service said earlier, UAH 59.444 billion in revenue was transferred to the national budget in January 2017, which was 38.7% up on the target for the period set at UAH 42.861 billion. It was twice the revenue reported in January 2016.
Treasury Service head Tetiana Sliuz later said that the revenue exceeded expenses in January because of a delay in VAT refunds, inflationary processes and an increase in the minimum wages.
Read alsoVAT refunds in Ukraine grow by 38% in 2016, to almost $3.5 blnAs UNIAN reported earlier, Ukraine reported a budget deficit in 2016. It was estimated at UAH 70.130 billion, which was 1.6 times up on the 2015 budget deficit (UAH 45.167 billion). The 2016 budget deficit was limited to UAH 83.694 billion.
Ukraine's nominal GDP in 2016 was UAH 2.358 trillion, according to the National Bank of Ukraine, and the annual deficit of the national budget last year accounted for 3% of GDP.
Ukraine's national budget for 2017 foresees revenue at UAH 731 billion, and spending at UAH 800 billion. A cap on the deficit of the budget is placed at UAH 77.5 billion, which is also 3% of GDP.