Ukraine had state budget deficit of $2 bln in Jan

MOSCOW. Feb 2 (Interfax) - Ukraine had a state budget deficit of UAH 72.3 billion or $2 billion in January, down from UAH 99 billion in December, Ukrainian media reported, citing the Finance Ministry's website.

The general fund deficit - the budget includes the general fund, which receives taxes and fees and is used for financing major expenditures, and a special fund, in which funds are earmarked for particular purposes - fell to UAH 78.9 billion from UAH 101 billion.

The budget's cash expenditures fell to UAH 193.7 billion in January from a record UAH 408.8 billion in December, and included UAH 183.6 billion of general fund cash expenditure.

General fund revenue was UAH 104.4 billion, of which UAH 36.6 billion in international grants, while in December revenues were UAH 229.4 billion, and grants UAH 138.6 billion. Excluding grants, state budget revenues decreased to UAH 67.8 billion in January from UAH 90.8 billion December.

Value-added tax revenue from goods produced in Ukraine came to UAH 11.8 billion in January, down from UAH 17.5 billion in December, however, VAT refunds increased to UAH 19.3 billion from UAH 8.1 billion.

Import VAT, preferences on which were abolished at the beginning of July, raised another UAH 24.4 billion for the budget in January, compared with UAH 29.3 billion in December; personal income tax and military tax - UAH 11.3 billion, down from UAH 17.7 billion; subsoil use rent - UAH 5.6 billion, down from UAH 9.6 billion; corporate income tax revenue was UAH 1.2 billion, up from UAH 2 billion; excise tax revenue was UAH 5.3 billion, and revenue from import and export duties came to UAH 2 billion.

Actual state borrowing to the general fund was UAH 160.1 billion in January, 54.7% of the plan, including UAH 41.4 billion from the placement of government bonds, of which UAH 2.6 billion in foreign currency, namely $40.2 million and 29.4 million euros.

The budget received 3 billion euros from external sources, namely an EU macro-financial assistance tranche.

Public debt repayment amounted to UAH 12.8 billion or 98.2% of the plan and servicing to UAH 0.6 billion or 27.2% of the plan in January.

The state budget of Ukraine for 2023 was approved with a deficit of up to UAH 1.297 trillion, including UAH 1.125 trillion for the general fund.