Ukraine's State Budget has 24 billion UAH is surplus – Ministry of Finance
WEDNESDAY, 2 MARCH 2022, 15:15
In February 2022, the general fund of the state budget received UAH 104.6 billion. The monthly budget breakdown ended at 129.3% (an increase of UAH 23.7 billion), Ukraine's Ministry of Finance's press service stated.
For payments to the budget under the control of the State Tax Service, revenues amounted to UAH 48.6 billion, and the breakdown ended at 110.1% (an increase of UAH 4.4 billion). This included:
- Personal income tax and military tax - UAH 12.6 billion
- Corporate income tax - UAH 8.3 billion
- Rent for the use of subsoil assets - UAH 6.3 billion
- Excise tax on goods produced in Ukraine - UAH 4.3 billion
- Value-added tax - UAH 12.3 billion (UAH 24.4 billion collected, UAH 12.1 billion reimbursed).
"Customs payments in the general fund of the state budget February 2022 amounted to UAH 34.9 billion
The breakdown, which was further increased by UAH 2.2 billion during the month to finance the urgent needs of the Armed Forces of Ukraine, ended at 102.3% (an increase of UAH 0.8 billion). Of the total revenues, UAH 32.5 billion came in the form of value-added tax and UAH 2.3 billion came from import duties," the Ministry of Finance stated.
Single contribution payments for compulsory government social insurance to the Pension Fund and social insurance funds for February 2022 amounted to UAH 34 billion, which exceeded the forecasted (planned) indicators of the State Tax Service for the corresponding period by UAH 4.8 billion.
"With the outbreak of hostilities on 24 February 2022, between the Russian Federation and Ukraine, funding from the state budget is being carried out fully and exclusively for the needs of the Armed Forces of Ukraine and social payments to the population (aid, wages and pensions).
According to the latest information from the State Treasury Service of Ukraine, for the first two months of 2022, cash expenditures from the general fund of the state budget were made in the amount of UAH 172.0 billion, or 80.4% of the budget breakdown for the reporting period.
For the first two months of the year, the state budget of Ukraine resulted in a surplus of UAH 24 billion, including the general fund, which had a surplus of UAH 13.1 billion on a planned deficit of the general fund for January-February 2022 in the amount of UAH 66.2 billion.
Actual government lending to the general fund of the state budget for January-February 2022 amounted to UAH 17.9 billion.
Economichna Pravda (Economic Truth)