According to preliminary data from the Ministry of Finance, tax revenues, fees, mandatory payments, and grants to Ukraine's state budget general fund increased in October to UAH 129.0 billion, up from UAH 122.9 billion in September.
Cash expenditures from the general fund in October rose significantly more, reaching UAH 314.2 billion compared to UAH 249.3 billion in September, marking a record high for this year.
For comparison, in October 2023, cash expenditures from the state budget's general fund amounted to UAH 228.1 billion, while revenues were UAH 139.4 billion.
The report specifies that value-added tax (VAT) from goods produced in Ukraine generated UAH 24.4 billion in October this year, compared to UAH 22.6 billion in September. Meanwhile, VAT refunds increased to UAH 15.3 billion from UAH 13.8 billion in September, and import VAT contributed an additional UAH 41.9 billion to the budget (up from UAH 40.2 billion in September).
In October, profit tax rose to UAH 6.1 billion from UAH 5.6 billion in September, while personal income tax and military levy totaled UAH 23.2 billion (up from UAH 20.2 billion in September). The rent payment for mineral resource usage was UAH 2.8 billion (down from UAH 3.7 billion), and excise tax brought in UAH 19.2 billion (down from UAH 21.3 billion). Import and export duties amounted to UAH 4.2 billion (up from UAH 4.1 billion).
The State Tax Service exceeded revenue targets by 0.7%, while the State Customs Service fell short by 13.1%, the Ministry of Finance added.
According to their data, contributions to the Pension Fund and social insurance funds rose to UAH 47.8 billion in the past month, up from UAH 46.7 billion in September.
Including the special fund, state budget expenditures in October 2024 reached UAH 374.6 billion compared to UAH 362.7 billion in September, while revenues were UAH 180.3 billion compared to UAH 232.0 billion in September.
Overall, Ukraine's state budget revenues for the first ten months of 2024 amounted to UAH 2 trillion 347.5 billion, including UAH 1 trillion 671.0 billion from the general fund, while cash expenditures reached UAH 3 trillion 348.3 billion and UAH 2 trillion 656.7 billion, respectively.
According to the Ministry of Finance's preliminary data, expenditures increased by 7.5% or UAH 234.4 billion compared to the first ten months of last year, while revenues increased by 6.4% or UAH 141.5 billion. For the general fund, expenditure growth was 13.2% or UAH 310.7 billion, while revenue growth was 18.2% or UAH 256.7 billion.
In the past year, the general fund received UAH 404.9 billion in international grant assistance over ten months, while this year it has totaled only UAH 269.2 billion.
As reported, the Verkhovna Rada increased the 2024 state budget revenues by UAH 143.0 billion in mid-September, bringing them to UAH 1 trillion 911.5 billion (excluding grants), and expenditures were raised by UAH 427.6 billion to UAH 3 trillion 736.6 billion, with the maximum deficit increased by UAH 274.6 billion to UAH 1 trillion 846.1 billion.
The revenues of the state budget for 2023 amounted to UAH 2.67 trillion, of which grant assistance was UAH 0.43 trillion. Cash expenditures of the state budget last year exceeded UAH 4 trillion, with a deficit of UAH 1.33 trillion at an average annual exchange rate of about UAH 36.6/$1.