Ukraine 5M18 budget revenue increases 14% yoy, below plan

Ukraine’s 5M18 state budget revenue increased 13.5%
yoy to UAH 369.7 bln, which is 0.6% below plan, the State Treasury
provisionally reported on June 1. Net tax revenue improved 16.2% yoy to UAH
164.5 bln (0.1% below plan), while  customs revenue rose 9.6% yoy to UAH
125.6 bln (2.8% below plan).

In May alone, net tax revenue surged 33.8% to UAH 43.0
mln, which is 2.7% above plan. Meanwhile, customs revenue picked up 12.5% yoy
to UAH 26.6 bln, which is 4.3% above plan.

Local budgets’ 5M18 revenue increased 17.6% yoy to UAH
94.0 bln, outperforming plan by 2.6%. Social payments (personal income tax and
pension fund contributions paid by employers) jumped 28.1% yoy to UAH 86.6 bln.

Evgeniya Akhtyrko: Rising
customs revenue amid the continuing surge in tax collection in May boosted the
budget’s 5M18 performance, bringing actual budget revenue close to plan. At the
same time, the strong revenue at this point still doesn’t provide the grounds
for a political initiative to hike the minimum wage
to UAH 4,100 per month from UAH 3,723 currently.