Revenues of Ukrainian state budget's general fund grow to 128.4 billion hryvni in Oct

MOSCOW. Nov 1 (Interfax) - The collection of taxes, duties, mandatory payments, and grants to the general fund of Ukraine's state budget reached 128.4 billion hryvni compared to 120.5 billion hryvni in September, according to the Ukrainian Finance Ministry's real-time data as of 4 p.m. on October 31.

The revenues collected by the State Tax Service in October grew to 68.5 billion hryvni compared to 64.3 billion hryvni in September, Ukrainian media outlets said, citing the Finance Ministry.

Collections from VAT increased to 24.4 billion hryvni in October from 22 billion hryvni in September with the growth of refunds to 15.3 billion hryvni from 13.8 billion hryvni, the ministry said.

As for collections from other taxes, those from personal income tax and military duty grew to 22.9 billion hryvni in October from 19.6 in September, profit tax to 5.9 billion hryvni from 4.9 billion hryvni, whereas excise tax declined to 11.4 billion hryvni from 13.9 billion hryvni and rent payments to three billion hryvni from 3.7 billion hryvni.

Collections from the State Customs Service increased to 54 billion hryvni in October from September's 52.3 billion hryvni. .

"Overall, according to operational data, the general and special funds of the state budget received 177 billion hryvni in taxes, duties and other payments in October 2024. In addition, the pension and social insurance funds received 43.8 billion hryvni [37.3 billion hryvni in September] in monthly social allowances," the ministry said, thanking taxpayers for their contribution to maintaining the Ukrainian army and the financial stability of the country.

Information about October expenditures is not available yet.

As reported, the Ukrainian Verkhovna Rada voted in mid-September to increase the 2024 state budget revenues by 143.0 billion hryvni to 1.912 trillion hryvni, without grants accounted for, expenditures by 427.6 billion hryvni to 3.737 trillion hryvni, and the budget deficit ceiling by 274.6 billion hryvni to 1.846 trillion hryvni.

The revenues of the 2024 state budget's general fund were increased by 154.2 billion hryvni to 1.751 trillion hryvni, without grants accounted for, expenditures by 438.8 billion hryvni to 3.547 trillion hryvni, and the budget deficit ceiling by 247.6 billion hryvni to 1.784 trillion hryvni.

The 2023 state budget revenues amounted to 2.67 trillion hryvni, including 0.43 trillion hrvyni in grants. The cash expenditures of last year's budget exceeded four trillion hryvni, with a deficit of 1.33 trillion hryvni and an average exchange rate of around 36.6 hryvni/$1.