3 Oct 2023 16:25

Ukraine's budget deficit in September was $2.4 bln, $22 bln for Jan-Sept period

MOSCOW. Oct 3 (Interfax) - The state budget of Ukraine in January-September 2023 came in with a deficit of 801.6 billion hryvnia ($21.9 billion at the current exchange rate), Ukrainian media quoted the country's Ministry of Finance as saying.

The state budget general fund deficit (taxes and fees are sent to the general fund and basic expenses are financed from it) was UAH 835.4 billion versus a planned UAH 1.3847 trillion.

State budget spending from January-September totaled UAH 2.8218 trillion, including UAH 2.1179 trillion (93% of plan) from the general fund. State budget revenues totaled UAH 2.135 trillion, including UAH 1.2749 trillion to the general fund. Of this, international grant assistance totaled UAH 362.9 billion (USA - UAH 356.5 billion).

In September, Ukraine's state budget deficit decreased to UAH 87 billion. ($2.4 billion) from UAH 130.7 billion in August and UAH 107.6 billion in July. The general fund deficit decreased to UAH 85.6 billion from UAH 122.2 billion in August and UAH 94.9 billion in July.

The Ministry of Finance, citing data from the State Treasury, indicated that state budget spending in September increased significantly to UAH 444.8 billion from UAH 310.1 billion in August and UAH 282.6 billion in July. Meanwhile, general fund spending decreased to UAH 230.2 billion from UAH 248.2 billion in August and UAH 231.9 billion in July.

Last month, revenues to the general fund increased to UAH 144.1 billion from UAH 124.7 billion in August and UAH 136.7 billion in July, while US grant international assistance totaled UAH 45.7 billion in September, after being absent in August.

As reported, after the Verkhovna Rada adjusted the parameters of the 2023 state budget in March, spending of UAH 3.759 trillion was approved (UAH 2.7834 trillion for the general fund), as was income of UAH 1.3904 trillion (UAH 1.2338 trillion for the general fund). The maximum deficit is set at UAH 1.7197 trillion (UAH 1.5439 trillion for the general fund). It is expected that it will be financed almost entirely through external borrowings of $42 billion.

The official rate as of October 3 is 36.57 UAH/$1.