You're reading: National budget revenue comes to Hr 22.35 billion in January 2015, says Finance Ministry

Revenue of Ukraine's national budget in January 2015 came to Hr 22.35 billion, which is 11.7 percent down on January 2014, while its expenses grew by 17.3 percent, to Hr 31.56 billion, the Finance Ministry reported on Feb. 27.

“In the comparable conditions, not taking into account payments from the NBU in the amount of Hr 4.04 billion in January 2014, revenue of the national budget in January 2015 grew by 5.1 percent year-over-year or by Hr 1.08 billion,” the ministry said.

The ministry said that revenue of the general fund decreased by 14 percent, to Hr 19.36 billion, while expenses grew by 20.1 percent, to Hr 30.45 billion.

The deficit of the general fund came to Hr 11.1 billion, which is 3.9 times up year-over-year.

The ministry said that revenues from value added tax (VAT) collected inside the country fell by 12.1 percent, to Hr 7.53 billion and revenue from VAT imposed on imported goods were down by 29.1 percent, to Hr 6.81 billion, revenue from profit tax decreased by 29.9 percent, to Hr 2.2 billion and revenue from excise duty collected inside the country fell by 4.8 percent, to Hr 1.78 billion.

The collection of royalties for use of deposits grew by 4.7 percent, to Hr 1.12 billion, imports duty – by 0.1 percent, to Hr 680 million. In addition, due to the introduction of the military tax, the general fund saw a triple increase in collection of individuals’ income tax – Hr 1.58 billion.

The ministry said that VAT refunding in January 2015 fell by 7 percent on January 2014, to Hr 4.82 billion.