Page 33 - UKRRptMar21

6.0​ Public Sector 6.1​ Budget
6.1.1 ​Budget dynamics - results
State budget revenues in February 2021 amounted to almost UAH77.3bn, which is 2% higher than the target ​and 7.6% higher than last year's level, according to the data of the State Treasury Service.
The general budget fund received UAH67.3bn in February, which is 1.9% higher than the target and 8.1% higher than in February 2020.
The growth of net tax revenue in February slowed down significantly amid increasing VAT reimbursement to exporters. ​The growth of customs revenue is still impressive. Meanwhile, the performance of local budgets doesn’t keep up with the State Treasury’s plan, and this might provide a more realistic picture of Ukraine’s public finances as local authorities usually have less resources to find “compensators” for underperforming tax payers.
As for the indicators of budget revenues for January-February, they were overfulfilled in 2021 by 4.2%​ compared to the target and by 16.9% compared to the last year's level for the same period. In general, for two months of this year, the state budget received almost UAH143.5bn, including UAH124.8bn for the general fund, which is 4% higher than the target and 19.2% more than in January-February 2020.
As indicated by the service, customs in February this year brought almost UAH27bn, which is 0.7% higher than the expected figure and 19.3% higher than the same month last year. In January-February of this year, customs revenues amounted to UAH49bn, which is 0.5% higher than the indicative figure set by the Finance Ministry and by 20.5% higher than the last year's level.
Tax revenues in February brought to the budget UAH37.7bn, which is 3.2% higher than the target and 1.7% higher than last year.
For two months of this year, tax revenues brought UAH71bn and were 6.9% higher than the expected figure and 19.4% higher than last year's level, the State Treasury Service said.
According to the State Treasury Service, the value added tax (VAT) refund in January fell to UAH12.47bn compared to UAH13bn in January.
Local budget revenues last month were 11.8% higher than the expected level – UAH28.1bn, which is 8.2% higher than in February 2020.
Proceeds from social security tax amounted to UAH26.57bn last month, which is 13.3% higher than in February 2020.
As reported, state budget revenues in 2021 are set at UAH1.084 trillion, including UAH959.854bn of the general fund, and expenditures at UAH1.32
33​ UKRAINE Country Report​ March 2021 ​ ​www.intellinews.com