Ukraine budget revenue rises 37% in November

Ukraine’s state budget revenue provisionally rose
37.0% yoy to UAH 140 bln in November, outperforming the plan by 5.1%, the State
Treasury reported on Dec. 1. Net tax revenue increased 43.6% yoy to UAH 77 bln
(9.8% above the plan) amid 41.0% yoy growth in gross tax revenue and a 43.6%
yoy increase in VAT reimbursement. Customs revenue advanced 41.7% yoy to UAH 42
bln (13.2% above the plan).

In 11M21, state budget revenue surged 22.7% yoy to UAH
1,159 bln, which is 4.2% above the plan. Net tax revenue advanced 19.5% yoy to
UAH 565 bln (5.6% above the plan) amid a 17.6% yoy jump in gross tax revenue
and a 10.6% yoy increase in VAT reimbursement. Customs revenue surged 37.6% yoy
to UAH 364 bln (3.9% above the plan).

Local budgets’ fiscal revenue improved 20.0% yoy to
UAH 323 bln in 11M21, which is 6.1% above the plan. Social payments (pensions
and other social fund contributions paid by employers) advanced 18.6% yoy to
UAH 310 bln.

Evgeniya Akhtyrko: Budget collections remained strong in November. High inflation helps to keep budget collections above the plan.
The higher budget revenue will enable the government to execute the planned
budget expenditures with less borrowing in 2021.