Ukraine Treasury residuals fall 2% in June
4 July 2016
The State Treasury of Ukraine reported on July 1 its end-June residuals fell 2.3% to UAH 18.0 bln from UAH 18.4 bln a month earlier. Treasury residuals were UAH 25.5 bln on July 1, 2015.
Alexander Paraschiy: Budget collections in May showed that fiscal accounts are still solid, bolstered by an 18.8% yoy revenue surge. The major part of that growth was due to quarterly enterprise profit tax payments. Profit tax collections likely slowed in June, and the reduced Treasury residuals reflect this story. So we do not see any disturbing signal in this latest Treasury data and expect the general positive trend with budget revenue will continue in 2016.
