You're reading: Ukraine’s budget deficit 21.2 percent up in 2013, says finance ministry

The deficit of the national budget of Ukraine in 2013 came to 64.708 billion, which is 21.2 percent up on 2012 (Hr 53.387 billion). 

“The consolidated budget [national and local budgets] in January-December 2013 was fulfilled with a deficit of Hr 63.591 billion. The deficit of the national budget over the period came to Hr 64.708 billion,” the Finance Ministry said in a report on its Web site.

According to the report, last year Hr 79.837 billion was allocated to paying the principal of the debt from the national budget, including Hr 41.871 billion to pay the internal debt and Hr 37.966 billion to pay the external debt.

State borrowing to finance the national budget in 2013 came to Hr 145.937 billion; Hr 94.28 billion on the domestic market and Hr 51.658 billion from external sources.

The government also issued government domestic loan bonds to increase the charter capitals of national joint-stock company Naftogaz Ukrainy worth Hr 8 billion, Oschadbank worth UAH 1.4 billion, private joint-stock company Ukrainian Danube Navigation worth Hr 300 million and to form the charter capital of public joint-stock company Agrarian Fund worth Hr 5 billion.

The ministry said that the national budget received UAH 1.48 billion from the privatization of state property last year (Hr 6.764 billion in 2012).

According to the report, in 2013, revenues of the national budget stood at Hr 339.18 billion, 2% down year-over-year.

Some Hr 291.573 billion was sent to the general fund of the national budget, 0.7% up year-over-year (Hr 289.577 billion).

Value added tax (VAT) was refunded in the sum of Hr 53.447 billion, which is 16.3% up on 2012 (Hr 45.959 billion).

The ministry said that Hr 47.608 billion was sent to the special fund of the national budget last year.

Cash expenses of the national budget in 2013 totaled Hr 403.403 billion, 2% up year-over-year. Cash expenses of the general fund stood at Hr 360.841 billion.

Some Hr 5.523 billion was sent to the national budget in 2013 thanks to return of credits and the budget issued credits worth Hr 6.007 billion.

According to the law on the national budget for 2013, its revenues were estimated at Hr 351.165 billion, including Hr 304.481 billion in the general fund, with expenses at Hr 419.844 billion and Hr 372.283 billion respectively.

The budget deficit was projected at no higher than Hr 69.981 billion, including Hr 63.93 billion for the general fund.

Changes of indicators of the national budget (UAH):

 20132012Changes,%Changes, Hr
Deficit of the consolidated budget63,591,300,00050,730,300,00025.412,861,000,000
Revenues of the consolidated budget442,742,900,000,445,454,300,000-0.6-2,711,400,000
Expenses of the consolidated budget505,791,900,000,492,394,900,0002.713,397,000,000
Deficit of the national budget64,707,600,000,53,387,400,00021.211,320,200,000
Revenues of the national budget339,180,300,000,346,025,500,000-2.0-6,845,200,000
Expenses of the national budget403,403,200,000,395,661,800,0002.000,000