Finance ministry says budget revenue target exceeded in Feb

The State Treasury Service says the budget revenue target has been fulfilled by 101.9% in February this year.

The inflow amounted to UAH 67.3 billion, operational data say, the press service of the Finance Ministry reports.

On payments collected by State Tax Service, revenues amounted to UAH 37.7 billion, or 103.2% of the February target, including personal income tax and military tax (UAH 10.3 billion); corporate income tax (UAH 5.3 billion); rent for the use of mineral resources (UAH 4.6 billion); excise tax on goods produced in Ukraine (UAH 4.6 billion); and value-added tax (UAH 9.4 billion).

A total of UAH 21.9 billion was collected and UAH 12.5 billion – reimbursed.

Receipts from customs payments amounted to UAH 26.9 billion, or 100.7% of the February target. Of the total revenues, UAH 24.8 billion came through value-added tax, and UAH 2 billion – through import duties.

Read alsoUkraine could receive IMF tranche before summer start - advisor to Presidential Office chiefThe Ministry of Finance says that as a whole, the general fund of the national budget for the first two months of 2021 received UAH 124.9 billion, or 104% of the target.

"According to the operational data of the State Treasury for January-February 2021, expenditures on the general fund of the state budget amounted to UAH 154.2 billion, or 90.7% of the target. Financing for social spending, defense, debt servicing, benefits and subsidies to local budgets were carried out in full in line with the schedule based on payment orders," the report said.

Actual government borrowings into the general fund of the state budget for January-February 2021 amounted to UAH 74.3 billion, or 68.6% of the target for the said period. Some UAH 74.3 billion was raised on government bonds. No funds were received from external sources as of March 1.

At the same time, repayment of public debt in January-February 2021 amounted to UAH 51.5 billion (97.9% of plan), and servicing payments stood at UAH 13.8 billion (92.2% of the target).

Background

According to the State Treasury Service, in January 2021, UAH 57.6 billion was transferred to the general fund of the state budget, the painting was completed by 106.5%.