Revenues of Ukrainian budget's general fund down to 153.6 bln hryvni in April 2024

MOSCOW. May 3 (Interfax) - Taxes, fees and obligatory payments to the general fund of Ukraine's state budget totaled, according to the latest updates, 153.6 billion hryvni in April 2024, down from 164.3 billion hryvni recorded in March and February's 184.8 billion hryvni, Ukrainian media said, citing the Finance Ministry's report, released at 4:00 p.m. on April 30.

Revenue from the State Tax Service declined the most, totaling 59.7 billion hryvni in April, compared to 105.7 billion hryvni received in March and 107.4 billion hryvni in February, the ministry said. The drop was due to the large profit tax payments transferred by banks, among other entities, in previous months, including advance payments.

Profit tax revenues stood at a mere 3.2 billion hryvni in April, marking a considerable decline from 60.1 billion hryvni received in March and 61 billion hryvni in February. The ministry's report, however, does not include the 38.64 billion hryvni in the National Bank's profit transferred to the budget in April.

As for other taxes, the personal income tax and military tax brought in 16.5 billion hryvni in April (15.7 billion hryvni in March), rent payments up to 5.5 billion hryvni (1.4 billion hryvni), and the excise tax up to 11.5 billion hryvni (9.2 billion hryvni).

The value added tax brought in 22.8 billion hryvni in April (18 billion hryvni in March) and 12 billion hryvni was reimbursed (11.1 billion hryvni in March).

Revenues from the State Customs Service rose to 48.9 billion hryvni in April, up from 45.8 billion hryvni in March and 39.8 billion hryvni in February. According to head of the Verkhovna Rada's Customs Committee Daniil Getmantsev, an addition 2.5 billion hryvni was received over the past week after the border with Poland was unblocked.

The monthly breakdown of the general budget fund revenue was exceeded by 29.5% (+35 billion hryvni), including by 7.9% (+4.4 billion hryvni) by the State Tax Service and 14.5% (+6.2%) by the State Customs Service, the ministry said.

The budget's general fund in April also received 2.7 billion hryvni in international assistance as grants, versus 3.1 billion hryvni in March and 31 billion hryvni in February.

"On the whole, according to current information, 200.8 billion hryvni of taxes, dues and other payments were transferred to the general and special funds of the state budget in April 2024 (225.9 billion hryvni in March and 229 billion hryvni in February). Additionally, about 40.1 billion hryvni was transferred to the Pension Fund and social insurance funds as unified social contributions (39 billion hryvni in March)," the ministry said.

April expenditure data is not yet available.

As reported, the Ukrainian parliament approved the 2024 state budget with a deficit of 1.57 trillion hryvni, or 20.6% of the forecasted GDP. The 2024 state budget revenue is planned at 1.77 trillion hryvni (without possible grants), alongside 3.36 trillion hryvni expenditures, with the average annual exchange rate of 40.7 hryvni to the dollar.

The 2023 state budget had 2.67 trillion hryvni revenue, including 0.43 trillion hryvni as grants. Cash disbursements exceeded 4 trillion hryvni and the deficit amounted to 1.33 trillion hryvni last year, with an average annual exchange rate of about 36.6 hryvni to the dollar.