The deficit of the national budget’s general fund amounted to Hr 13.9 billion in October, while the national budget’s general fund was reduced to a deficit of Hr 54.5 billion in January-October 2021, the Finance Ministry of Ukraine has said on Nov. 2.
“In January-October 2021, the national budget’s general fund was executed with a deficit of Hr 54.5 billion, while writing for the reporting period in the amount of Hr 160.9 billion,” the Finance Ministry said on its website with reference to the operational data of the State Treasury Service.
According to the State Treasury statistics, in October 2021, some Hr 78.8 billion was transferred to the national budget’s general fund, which is 2.3% more than the monthly list. However, tax receipts amounted to Hr 38.6 billion in October, of which Hr 11.7 billion were receipts from personal income tax and military tax, some Hr 14.4 billion from value-added tax (VAT), Hr 6.4 billion from the excise tax on goods produced in Ukraine, Hr 2.4 billion from corporate income tax, and Hr 1.9 billion due to rent for the use of mineral resources.
Customs receipts replenished the national budget’s general fund in October by Hr 37 billion, which is 1.5% of the list, while Hr 34.5 billion came in the form of VAT, Hr 2.3 billion of import duty, the ministry said.
In general, the receipts of the general fund over ten months amounted to Hr 862.1 billion, expenses to UAH 921.5 billion. However, the expenditure part was unfulfilled relative to the list by 7.3%, the ministry said.
“Financing of social spending, defense spending, debt service and subventions, subsidies to local budgets were carried out in full in accordance with the list on the basis of payment orders,” the ministry said.
According to the Finance Ministry, actual borrowings into the national budget’s general fund in January-October 2021 amounted to Hr 401.7 billion, which is 23.4% less than the plan. The placement of government domestic loan bonds to finance the national budget brought in Hr 282.9 billion, including Hr 80.6 billion in foreign currency ($2.4 billion and 418.1 million euros).
“In addition, the issue of government domestic loan bonds was carried out in the amount of Hr 1.8 billion with further acquisition of state-owned property in exchange for such bonds of the shares of PrJSC Export Credit Agency,” the Finance Ministry said.
According to it, some Hr 117 billion were attracted from external sources, in particular, Hr 48.2 billion ($1.75 billion) through the placement of eight-year government domestic loan bonds at 6.876% per annum and their additional placement with a yield of 6.3%; some Hr 37.9 billion (SDR 1 billion) from the IMF; some Hr 18 billion (588.7 million euros) of EU macro-financial assistance; Hr 9.6 billion ($350 million) of the IBRD loan within the Additional Financing for the Serving People, Improving Health Project.
The repayment of the public debt for ten months of 2021 was 3% less than the plan and amounted to Hr 391.8 billion, service payments remained 7.1% less than the plan, to Hr 116.6 billion, the Finance Ministry said.
