Politics 2022-01-15T05:59:08+02:00
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Serhiy Lovochkin: Budget Fulfillment Plan Consistently Failing

Serhiy Lovochkin: Budget Fulfillment Plan Consistently Failing

Serhiy Lovochkin, Opposition Platform - For Life
Serhiy Lovochkin. Photo: lovochkin.org
Serhiy Lovochkin. Photo: lovochkin.org

Grave problems with state budget fulfillment in 2019 persevere and finding a solution to them should be the #1 priority after the presidential election. This was stated by Opposition platform - For life MP Serhiy Lovochkin commenting on live data by the Treasury Department on state budget performance.

This was the official website of the politician.

"In March 2019, the income figures fell short of target by 10 percent, as of Q1 2019 — by 4.9 percent, or 10.9bln hryvnia. This resulted from irresponsible economic policy over the recent years," Lovochkin said.

According to the MP, the general fund of the state budget keeps falling short of the target plan. The general fund of the state budget received 100.8bln hryvnia in income over the first two months of 2019, which is only by 0.1bln more than in January-February 2018 and by 10.3 percent (or 11,5bln) less than planned.

The politician said that poor performance of the state budget has been caused by shortage in rents (-7.5 percent or minus 0.7bln hryvnia compared to plan), national excise duties (-42.7 percent or 4.6bln hryvnia), national VAT inclusive of restitution (-38.7 percent or 5.7bln hryvnia), foreign VAT (-12.2 percent or 5.9bln hryvnia), and import duties (-9.5 percent or 0.35bln hryvnia).

"The situation is slightly better with collecting income to the special fund. However, this is mostly due to one-time sources, like allowing customs clearance for used cars with European plates. This was a short-time factor, which ended on Feb. 22 together with the grace period for the clearance. Leaving the budget fulfillment to these factors means dooming the people to a social crisis as soon as summer 2019," Lovochkin said.

The MP said that additional income from excise duties, foreign VAT, customs payments for cars imported to Ukraine temporarily or on transit between Jan. 1, 2015 and January-February 2019, when the bill on taxation of imported cars took effect, has reached 6.8 bln hryvnia.

"In coming months, the question of changing the priorities of the budget policy should be raised, focusing this policy on social expenses and economy development costs. Ukraine’s budget should not depend on one-time customs clearance events," Lovochkin summed up.

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