The revenues of Ukraine's national budget general fund in 2009 could be UAH 30 billion less on the plan, according to a government estimation contained in the recently announced Naftogaz Ukrainy's materials including data on restructuring its eurobonds worth $500 million.
“Based on trends as of September 1, 2009, and absent possible
positive developments before year end, the government believes that
actual revenues accruing to the national budget general fund may fall
short of the amount budgeted in the most recent plan for 2009 by up to
approximately UAH 30 billion,” the document reads.
According to the document, of that amount, approximately UAH 20
billion would reflect decreased VAT collections, while approximately
UAH 10 billion would result from corporate income tax inflows that were
lower than originally expected.
According to the law on the 2009 national budget, its planned
revenues are UAH 239.22 billion, including those of UAH 183.98 billion
in the general fund, and its planned expenditures are UAH 267.68
billion, including those of UAH 193.64 billion in the general fund. So,
the lack of the revenues of Ukraine’s national budget general fund in
2009 could be 16.3%.
