You're reading: Ukraine’s national budget revenue falls short by 8.2% in 2014

Ukraine's 2014 national budget fell short by Hr 36.3 billion 8.2% of the target, while in January-November 2014 the shortfall was 6.8%, according to tentative data from the State Treasury Service of Ukraine published on Jan. 5.

“In January-December 2014, Hr 406.9 billion or 91.8% of the target was collected for the general and special funds of the national budget,” reads the report.

According to the report, the general fund of the national budget received UAH 354 billion or 5.2% less than the sum foreseen in the monthly revenue target: a shortage of Hr 19.6 billion.

The treasury said that tax agencies did not collect Hr 15.9 billion, 7.6% of the target (UAH 210.7 billion collected), for customs agencies – Hr 3.8 billion or 3% of the target (Hr 120.3 billion was collected).

The State Fiscal Service refunded Hr 43.33 billion of value added tax (VAT), 84% of the target.

In 2014, government domestic loan bonds to refund VAT worth Hr 6.9 billion were issued.