Головна сторінка
/
Новини
/

State budget deficit totals 0.8% of 2012E GDP in June

State budget deficit totals 0.8% of 2012E GDP in June

31 August 2012

Ukraine’s state budget deficit widened to UAH 10.2 bln (0.8% of 2012E GDP) in June, taking the 7M shortfall to UAH 16.9 bln (1.3% of 2012E GDP), considerably wider than the UAH 8.6 bln in the same period of last year.

Vitaliy Vavryshchuk: Alarmingly, state budget expenditure growth (+14.4% yoy in 7M12) started to outpace that of revenues (+10.5%). Key tax collections decelerated notably: corporate profit tax proceeds were 4.0% yoy higher in 7M12 (vs. +12% in 1H12) and VAT proceeds were up 9.6% in 7M12 (vs. 13.6% in 1H12). The weaker growth was attributable to an overall slowdown in economic growth and also due to sizable advance tax payments made by the corporate sector in 1H12. The government is targeting a full-year state budget deficit of UAH 25.1 bln, or 1.7% of 2012E GDP, and the target is very likely to be missed, in our view.

Останні новини

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...