Ukraine budget revenue jumps 30% yoy in January

Ukraine’s state budget revenue rose 29.6% yoy to UAH
66.1 bln in January, outperforming the plan by 6.7%, the State Treasury provisionally
reported on Feb. 1. Net tax revenue surged 48.8% yoy to UAH 33.3 bln (11.4%
above plan) amid 14.7% yoy growth in gross tax revenue and a 21.8% yoy fall in
VAT reimbursement. Customs revenue jumped 21.9% yoy to UAH 22.1 bln (0.4% above
plan).

Local budgets’ fiscal revenue improved 2.4% yoy to UAH
22.0 bln in January, which is 12.4% below the plan. Social payments (pension
and other social fund contributions paid by employers) advanced 5.0% yoy to UAH
23.1 bln.

Evgeniya Akhtyrko: Ukraine’s
fiscal bodies continue demonstrating good performance in accomplishing
ambitious plans for budget revenue. The fast growth of budget revenue in the
midst of a mostly lethargic economy implies that the fiscal bodies are likely
to employ additional techniques to get higher collections. Hopefully, at least
a part of this increase is a result of fighting corruption and the breakup of
shadow economic activities.