Ukrainian state budget's general fund receipts up 90.8% owing to int'l grant in March 2025

MOSCOW. April 1 (Interfax) - The Ukrainian state budget's general fund receipts from taxes, duties, and mandatory payments grew to UAH 313.5 billion in March 2025 from UAH 164.3 billion in March 2024 and UAH 125.8 billion in February 2025, Ukrainian media reported citing the Finance Ministry's statement.

This significant increase was due to the fact that Ukraine received UAH 97.8 billion from the International Bank for Reconstruction and Development (IBRD) under the Grant Agreement of the Facilitation of Resources to Invest in Strengthening Ukraine Financial Intermediary Fund (F.O.R.T.I.S. Ukraine FIF).

Receipts from the corporate income tax increased to UAH 86.0 billion in March 2025 from UAH 60.1 billion in March 2024, those from the individual income tax increased to UAH 26.8 billion, and those from the military tax increased to UAH 16 billion.

The receipts from VAT on goods manufactured in Ukraine amounted to UAH 25.8 billion, with UAH 39.5 billion collected and UAH 13.7 billion reimbursed, compared to UAH 18.5 billion collected and UAH 11.1 billion reimbursed in March 2024. Receipts from the excise tax amounted to UAH 14.2 billion (UAH 14.5 billion), and those from rent payments UAH 3.9 billion (UAH 2.2 billion).

The receipts from the State Tax Service amounted to UAH 159.4 billion (UAH 105.7 billion in March 2024), and those from the State Customs Service UAH 51.4 billion (UAH 45.8 billion), the Finance Ministry said.

Based on the Finance Ministry's tentative data, the state budget's general and special funds received in aggregate UAH 360.9 billion in taxes, duties, and other mandatory payments in March 2025, up from UAH 242.8 billion in March 2024 and UAH 244.7 billion in February 2025.

The pension and social insurance funds received another UAH 43.7 billion in the unified social tax (UST) on March 1-28, 2025, compared to UAH 42.5 billion in March 2024.

No information on February's expenditures are available yet.

As reported, the 2025 state budget was approved with revenues of UAH 2.327 trillion, including UAH 2.133 trillion of general fund revenues, without grants and international aid accounted for, and expenditures of UAH 3.929 trillion, including UAH 3.592 trillion of general fund expenditures.

According to the Finance Ministry, the 2024 state budget revenues amounted to UAH 3.120 trillion, which is UAH 448 billion, or 16.8%, more than the 2023 state budget revenues. The general fund revenues grew by UAH 514 billion, or by 30.9%, to UAH 2.177 trillion, including international grant aid amounting to UAH 453.6 billion, compared to UAH 433.9 billion in 2023.

The 2024 state budget expenditures grew by UAH 464.5 billion, or by 11.6%, to UAH 4.479 trillion compared to 2023, including growth in the general fund expenditures by 15%, or by UAH 454.5 billion to UAH 3.489 trillion.