Page 45 - UKRRptFeb19

According to the nation's Finance Ministry, the national budget revenues and expenditures were increased respectively to UAH1.019 trillion and UAH1.112 trillion, which is 11.8% and 12.1% higher than in the national budget for 2018.
The upper limit of the state budget deficit in 2019 is set at UAH89.989bn, compared with UAH80.65bn in 2018, with an expected GDP growth of 3% and inflation of 7.4%.
In October, the IMF said that it forecasts Ukraine's budget deficit this year will amount to 2.5% of GDP, rising to 2.6% of GDP in 2019. It then it is expected to decline to 2.3% of GDP in 2020, to 2.2% of GDP in 2021, to 2.2% of GDP in 2022 and to 2.1% of GDP in 2023.
Ukrainian Prime Minister Volodymyr Groysman believes that that the adoption of the national budget will allow Ukraine to quickly receive financial support from international financial institutions and confidently go through the end of this and the beginning of next year.
6.1.1 Budget dynamics - results
The state budget of Ukraine was implemented by 100.2% during 11 months, the press service of the Finance Ministry of Ukraine reported.
The budget is estimated to end 2018 with a deficit of 2.5% that is supposed to fall to 2.3% according to the 2019 budget but the IMF thinks it will increase to 2.6% in 2019 before falling to 2.3% in 2020.
It is reported that the incomes of the state budget increased by $4.3bn or by 16.4% during 11 months in comparison with the same period of time in 2017 and they made $30.7bn.
The incomes from the VAT of the imported goods increased by $1.6bn, from the enterprises’ income tax by $1.3bn, VAT of the manufactured products considering the budget reparation by $474mn, tax and fee from the incomes of the physical persons by $550mn, excise tax by $302mn and funds from the sale of 4G license by $228mn.
The surpassing of the budget made $65.5mn and took place through own incomes ($554.3mn) tax for the enterprises’ income ($528.8mn), tax and fee from the incomes of the physical persons ($43.7mn).
The incomes of the general fund made $27.7bn, which is $4.46bn (19.2%) more than the last year. The implementation of the signature during this period of time is 98.5%, the shortfall is $412mn.
The largest amount of the funds in January-November 2018 was received from:
● payment of the VAT from the manufactured products considering the budget reparation ($2.58bn, it is more for $474mn or 22.4% than in 2017);
● VAT of the imported goods ($9.8bn, it is more for $1.6bn or 19.5% than in 2017);
● tax for enterprises’ incomes ($3.4bn, it is more for $1.3bn or 50.1% than in 2017);
● tax and fee from the incomes of the physical persons ($2.97bn, it is
45 UKRAINE Country Report February 2019 www.intellinews.com