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In 7M20, the general budget deficit amounted to UAH32.1bn (vs. a surplus of UAH22.7bn in 7M19).
Tax revenue slid 0.8% y/y to UAH85.4bn in July, after 1.0% y/y growth in June. In particular, personal income tax revenue declined 4.2% y/y (vs. 0.5% y/y growth in June). Resource royalty payments dropped 38.6% y/y (vs. a 60.6% y/y decline in June). Enterprise profit tax proceeds slid 9.9% y/y (vs. a 73.3% y/y decline in June). Meanwhile, net VAT revenue jumped 29.1% y/y (vs. a 85.5% y/y surge in June), as VAT reimbursement declined 12.3% y/y and gross revenue advanced 5.8% y/y.
Non-tax revenue declined 50.9% y/y to UAH85.4bn in July (after doubling y/y in June). In particular, income from ownership and entrepreneurship plummeted 91.5% y/y. In addition, the revenue of budget-financed entities slid 0.8% y/y. Administrative payments and revenue from non-commercial activities declined 14.0% y/y. At the same time,” other” non-tax revenue increased 17.2% y/y.
The deficit of the national budget of Ukraine in January-July 2020 amounted to UAH51.2bn ($1.8bn), including UAH57bn for the general fund compared with the plan of UAH100.8bn, according to the data of the State Treasury Service of Ukraine.
According to information posted on the agency's website on August 26, borrowings for the specified period amounted to UAH351bn, including external borrowings of UAH166.7bn.
Borrowings for the general fund amounted to UAH345.8bn compared with the plan of almost UAH360bn; external borrowings for the general fund reached UAH161.2bn.
At the same time, repayments for this period were at the level of UAH236.5bn (in accordance with the plan), including UAH85.24bn of external, the State Treasury Service said.
National budget receipts for this period amounted to UAH588.5bn, including UAH508.9bn for the general fund, with a plan of UAH541.3bn.
Expenditures in January-July totalled UAH636.9bn, including UAH566.5bn from the general fund compared with the planned UAH586.3bn.
National budget receipts for 2020 have been approved at UAH975.833bn (including UAH855.4bn for the general fund); expenditures have been set at UAH1.266 trillion (UAH1.135 trillion).
38 UKRAINE Country Report September 2020 www.intellinews.com
