Deficit of general fund of Ukraine’s state budget in June up to UAH 18.5 bln, since year start to UAH 49.8 bln – Finance Ministry

The deficit of the general fund of the state budget of Ukraine in June 2021 increased to UAH 18.5 billion, and since the beginning of the year – to UAH 49.8 billion, the Ministry of Finance has said.

"For January-June 2021, the state budget posted a deficit of UAH 50.4 billion, in particular the general fund saw a deficit of UAH 49.8 billion, while the general fund of the reporting period was recorded in the amount of UAH 118.9 billion," the Ministry of Finance said, with reference to recent data from the State Treasury Service.

According to the report, in June the general fund of the state budget received UAH 84.9 billion of revenues, which is 6.9% higher than the target, and according to the results of the first half of the year, UAH 505.9 billion of revenues came to the state budget, which is 4.9% more than the target. At the same time, expenses for the six months amounted to UAH 558.4 billion, or 92.6% of the plan for this period.

"Financing of social spending, defense spending, debt service, subventions and subsidies to local budgets were carried out in full in accordance with the plan on the basis of payment orders," the Ministry of Finance said in a release.

According to the ministry, actual borrowings into the general fund of the state budget for the six months amounted to UAH 257.8 billion, or 23.4% less than the plan. Some UAH 211.4 billion was raised from the placement of government bonds to finance the state budget, including UAH 59.7 billion in foreign currency ($ 1.7 billion and EUR 409.9 million).

From external sources, the Ministry of Finance attracted UAH 46.7 billion over the specified period, in particular, UAH 34.7 billion ($ 1.25 billion) – through the placement of eight-year external government bonds at 6.875% per annum, UAH 9.6 billion – receipt of funds from the IBRD loan under the project of the first loan for development policy in the field of economic recovery, as well as UAH 1.1 billion ($ 40 million) – a loan from the IBRD under the program for additional financing of the project for improving public health care.

"At the same time, payments for repayment of the state debt in January-June 2021 amounted to UAH 231 billion (100% of the plan), service payments – UAH 74 billion (94.5% of the plan)," the ministry said.

Source: www.en.interfax.com.ua