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16 July, 2013 17:03   ▪  

Budget deficit grows threefold over the past six months

State budget deficit has grown threefold over the first six months of 2013 compared to the same period in 2012, to UAH 22.5bn from UAH 6.7bn respectively, reports Tetiana Sysoyeva, Director of Fiscal Policy Department at the Ministry of Finance

“Total budget revenues were UAH 142bn in the first six months of 2013 which is UAH 1.1bn or 0.8% more compared to the same period of 2012. The government has paid VAT reimbursements worth UAH 27.5bn which is UAH 4.5bn or 19% more than last year. Budget deficit is UAH 22.5bn which is below the planned deficit,” Sysoyeva said. 

According to earlier reports, Ukraine’s budget deficit over January-May 2013 was fivefold, i.e. UAH 18.9bn higher compared to the same period in 2012. The deficit of January-April 2013 was 3.6 times or UAH 16.1bn above that of the previous year. 

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The 2012 year-end state budget deficit amounted to UAH 53.4bn or 2.3 times over the deficit of 2011. Ukraine’s consolidated budget of 2012 (includes state budget of Ukraine, the budget of Crimea and local budgets) had the deficit of UAH 50.7bn.

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