Revenues of the state budget in February amounted to UAH 70.3 billion, up by 24.9% YoY, according to the press service of the Finance Ministry.
“In February, according to the data provided by the State Treasury Service, revenues of the state budget (general and special funds) amounted to UAH 70.3 billion, or 108.6% of the plan. Revenues grew by 24.9% compared with February 2018, which was driven by the growth of wages and higher consumption (VAT, excise duties),” the report says.
At the same time, revenues of the general fund of the state budget amounted to 97.9% of the plan, which was contributed by the following factors: the actual increase in imports was lower than those projected in the budget, the overpayment in early February from rent payments for natural gas amounted to UAH 0.6 billion, the production of tobacco products decreased; wholesale companies filled the domestic market at the expense of warehouse stocks, having paid excise duties in previous years.
The lower than planned revenues from import VAT, rents and excise duties were partially offset by the overperformance of the target on personal income tax and corporate profit tax.
Revenues of the special fund of the state budget amounted to 198% of plan. The main revenue sources for the general fund of the state budget included revenues transferred from import duties, VAT and excise duty on customs clearance of cars with foreign registration, imported in the period from January 1, 2015 to November 25, 2018. In February, such payments, which are the source of financing of the Pension Fund, amounted to UAH 4 billion. In addition, in February, the state budget received UAH 1.5 billion of funds confiscated by court’s rulings on corruption-related cases.
In January-February, revenues of the state budget amounted to UAH 124.8 billion, or 99.2% of the plan. Compared to last year, revenues grew by 13.3 billion UAH, or by 12%. (Ukrinform/Business World Magazine)
