State Budget’s Deficit Makes UAH 147 Billion In 4 Months

In the first four months of 2022, the state budget was executed with a deficit of UAH 146.6 billion.

The Ministry of Finance has said this in a statement, Ukrainian News Agency reports.

In April 2022, the general fund of the state budget received UAH 76.2 billion.

Among the payments, the collection of which is controlled by the tax and customs authorities, the main revenues were received from:

- value-added tax on goods produced in Ukraine - UAH 15.6 billion;

- personal income tax and military tax - UAH 9.7 billion;

- value added tax on goods imported into the customs territory of Ukraine - UAH 7.9 billion;

- rent payment for the use of subsoil - UAH 6.5 billion;

- corporate income tax - UAH 5.7 billion;

- excise tax on goods imported into the customs territory of Ukraine - UAH 4.2 billion.

Receipts of a single contribution for compulsory state social insurance to the Pension Fund and social insurance funds in April 2022 amounted to UAH 29.7 billion.

In general, in the first four months of 2022, the state budget received UAH 412.5 billion, including UAH 365.9 billion to the general fund.

The military invasion of the Russian Federation in the territory of Ukraine on February 24, 2022 and the further deployment of hostilities dealt a serious blow to the Ukrainian economy, which, of course, affected the implementation of the budget indicators of the current year.

The government immediately took priority measures to reorient the country's budget for military purposes and to carry out the necessary social spending aimed at supporting the life of the population.

In January-April 2022, cash expenditures of the state budget amounted to UAH 558.1 billion, including UAH 523.3 billion of the general fund of the state budget, or 77.7% of the total for the reporting period.

For the first 4 months of 2022, the state budget was executed with a deficit of UAH 146.6 billion, including the general fund with a deficit of UAH 157.2 billion, with a planned deficit for the first four months of 2022 in the amount of UAH 317.1 billion.

As Ukrainian News Agency earlier reported, Prime Minister Denys Shmyhal previously reported that in April the state budget would be implemented by only 50% in terms of revenues.

In the second quarter of 2022, a significant underperformance of the state budget is predicted and a temporary reduction in social spending is allowed from May.

President Volodymyr Zelenskyy signed a law to increase the reserve fund of the state budget by UAH 200 billion.

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