Ukrainian state budget deficit 26.7% of spending in H1

MOSCOW. July 4 (Interfax) - Ukraine's state budget deficit was UAH 476.3 billion or just over $13 billion at the current rate and 26.7% of spending in H1 2023, Ukrainian media reported on Tuesday, citing the Finance Ministry.

State budget spending in H1 2023 was UAH 1.784 trillion, of which General Fund spending UAH 1.408 trillion. State budget revenue was UAH 1.302 trillion, including UAH 269.4 billion of international donor aid.

Ukraine's state budget deficit widened to UAH 135.1 billion in June from UAH 88.3 billion in May and UAH 32.6 billion in April. State budget spending rose to UAH 376.4 billion in June from UAH 364.7 billion in May and UAH 295.8 billion in April. General Fund revenues totaled UAH 133.7 billion in June, down from UAH 184 billion in May and UAH 162.8 billion in April. International donor aid totaled UAH 44.4 billion.

The parliament in March increased state budget expenditures for 2023 to UAH 3.076 trillion and revenues to UAH 1.39 trillion, with General Fund expenditures at UAH 2.783 trillion and revenue UAH 1.234 trillion.

The deficit is capped at UAH 1.72 trillion, including a general fund deficit of UAH 1.544 trillion. It is supposed to be financed entirely with $42 billion of external borrowing.

The official exchange rate was UAH36.57/$1 on July 4.