The deficit of the general fund of the national budget of Ukraine in January-September amounted to Hr 25.8 billion and was financed by borrowings, the Ministry of Finance said in a press release on the website.
At the same time, in September the general fund received Hr 331.1 billion, which is 0.3 percent more than the budget breakdown and almost 16 percent more than in September 2018, the Ministry of Finance reported.
“In general, in January-September the influence of, first of all, macroeconomic indicators on income from foreign economic activity remained negative. In general, for the first nine months of 2019, the revenues of the general fund of the state budget although increased by 6.8 percent year-on-year, to Hr 650.8 billion, but made up 94.6 percent of the budget breakdown,” the ministry explained.
Income from VAT on goods produced in Ukraine, taking into account VAT refunds, amounted to Hr 60.1 billion, which is 88.8 percent of the budget plan due to the higher rates of reimbursement for exports. This is due to documentary checks of the amounts claimed for reimbursement at the end of 2018 as part of measures to minimize abuse, the ministry explained.
Revenues from excise tax on excisable goods produced in Ukraine in January-September amounted to Hr 44.4 billion, which is 79.5 percent of the target. The Ministry of Finance says underperformance is due to a decline in tobacco production.
