Home
/
News
/

Ukraine budget revenue surges 16% yoy in August

Ukraine budget revenue surges 16% yoy in August

2 September 2014

Ukraine’s state budget revenue surged 15.8% yoy in August compared to 5.4% yoy in the prior month, according to a State Treasury report released on Sept. 1. For 8M14, budget revenue reached UAH 236.9 bln, which is 8.9% more than the same year-ago period. Nevertheless, the revenue growth falls short of the state budget plan by UAH 16.8 bln (6.6%) for 8M14. VAT reimbursement in cash for exporters was UAH 4.5 bln in August, the Treasury reported, which is 31.3% higher yoy (or UAH 29.6 bln in 8M14, which is a 19.8% drop yoy). MinFin also reimbursed UAH 954.8 mln through VAT bonds in August.

 

Alexander Paraschiy: The growing budget revenue looks encouraging, with the main contributors being a higher rent on mineral extraction, a new war tax, and a tax on deposit incomes (approved with budget amendments in August)  the main contributors to the revenue growth. In light of these improving trends (and despite the escalating war), we see a very good chance that MinFin will meet its outlined target of 11.4% yoy central budget revenue growth for 2014, which in turn would likely keep the state deficit unchanged in line with IMF commitments. Barring a large-scale war, the risks surrounding budget implementation are very minor this year.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...