Page 36 - UKRRptMay21

6.0 Public Sector 6.1 Budget
6.1.1 Budget dynamics - results
Ukraine’s general budget deficit shrank to a UAH3.0bn deficit in March from UAH10.0bn in the prior month, the State Treasury reported on April 27. General budget revenue jumped 24.0% y/y to UAH138.3bn, rising from 8.0% y/y in February. General budget expenditures increased 10.6% y/y to UAH116.4bn, slowing from 19.1% y/y growth in February.
In 1Q21, the general budget deficit amounted to UAH6.3bn (vs. a deficit of UAH17.3bn in 1Q20).
Tax revenue surged 23.0% y/y to UAH124.8bn in March, accelerating from 9.1% y/y growth in February. Net VAT revenue jumped 59.3% y/y (vs. a 12.7% y/y decline in February), as gross VAT revenue jumped 33.3% y/y and VAT reimbursement increased 13.5% y/y. Enterprise profit tax advanced 5.7% y/y (after decreasing 25.0% y/y in February). VAT revenue from imported goods increased 39.7% y/y (vs. 19.9% y/y growth in February). The growth of revenue from personal income tax accelerated to 9.1% y/y (from 7.7% y/y growth in February).
Non-tax revenue jumped 36.3% y/y to UAH8.2bn in March (after sliding 1.0% y/y in February). In particular, the revenues of budget-financed entities surged 51.1% y/y, and administrative payments increased 9.7% y/y. Income from ownership and entrepreneurial activities advanced 3.5% y/y.
36 UKRAINE Country Report May 2021 www.intellinews.com