Page 46 - UKRRptFeb19

more for $550mn or 22.6%). ●
At the same time, it is noted that the incomes from the excise tax decreased by $317.2mn (10%), which is explained by the increase of the% of the payments to the special fund of the incomes of the tax for petroleum products and transport means and rent for the use of the subsoil by $149.5mn (10.5%).
The volume of the recovered VAT increased by $470.4mn (11.9%) and made $4.4mn.
The expenses of the state budget for the reporting period increased in comparison with the rate of the last year by 17.1% ($4.5bn) and made $30.7bn. The expenses of the budget increased by $4.4bn (19.4%) without consideration of the debt service.
The expenses of the common fund of the state budget increased by $3.96bn in comparison with the last year and made $28bn.
The expenses of the common fund for the salaries with finance charges increased by $1.2bn (29.3%) and made $5.4bn, and expenses for the social security increased by $572.5mn (12.3%) and made $5.2bn.
The transfer to the Pension Fund was financed in the volume $4.69bn. It is more by $532mn (12.8%) than in 2017.
The state budget of Ukraine was implemented with the deficit in the sum of $6.7mn.
The budget got $6.3mn from the privatization of the state property.
6.1.1 Budget dynamics - funding
The National Bank of Ukraine (NBU) expects to obtain from the International Monetary Fund (IMF) two tranches of $1.3bn each by the end of 2019 , the regulator's governor Yakiv Smolii told journalists on January 16. The first tranche should be allocated in May, another in September, he added. "Accordingly, these funds will be sent to foreign exchange reserves," Smolii said. The statement followed the approval by the nation’s main donor, the International Monetary Fund (IMF), a 14-month $3.9bn Stand-By Arrangement (SBA) for Ukraine. The programme will replaced a $17.5bn Extended Fund Facility (EFF) agreed with Kyiv in 2015. According to the IMF, the new programme "will provide an anchor for the authorities’ economic policies during 2019 and focus on maintaining macro-economic and financial stability." Simultaneously, the board of executive directors of the World Bank has approved the provision of guarantees to Ukraine in the amount of $750mn with the aim "to help Ukraine raise about $1 billion from international markets to finance the country's budget," the lender said on December 19.
In 2018, UAH230.5bn was transferred to local budgets, which is UAH41bn more compared to the previous year , according to the State Fiscal Service. "In 2018, UAH230.5bn was paid to local budgets. Compared to 2017, revenues grew by 21.6%, or UAH41bn. In 12 months of 2017, UAH189.5bn was transferred to local budgets,” reads the report. The State Fiscal Service also noted that UAH20.8bn was transferred to local budgets in December
46 UKRAINE Country Report February 2019 www.intellinews.com