The deficit of the general fund of Ukraine's national budget came to Hr 5.15 billion in July, which is 49.7 percent down from June 2014 and 24.2 percent down on July 2013, the Finance Ministry has reported on its official Web site.
According to the ministry, in January-July 2014, the deficit of the general fund stood at Hr 28.01 billion, which is 10.8 percent better than in January-July 2014.
The finance Ministry said that in July 2014 VAT-bonds worth Hr 5.7 billion were issued to register the debt of refunding value added tax (VAT) as of early 2014, which was taken into account in the deficit of the special fund, which reached Hr 4.95 billion in July.
In general, the deficit of the national budget in July grew by Hr 10.24 billion, totaling Hr 32.79 billion in January-July 2014, which is 8.3 percent up year-over-year and 41percent of the annual target.
The Finance Ministry said that revenues of the national budget in January-July 2014 came to Hr 199.06 billion, which is 4.9 percent up year-over-year. Hr 177.17 billion was sent to the general fund of the national budget over the period, which is 6.5 percent up year-over-year.
Taking into account earlier published data, in July 2014, revenues of the general fund of the national budget grew by 1.6 percent compared to July 2013 and by 15.5 percent compared to the previous month, to Hr 24.31 billion.
The ministry said that the growth in revenues this year was linked to additional payments from the National Bank of Ukraine (NBU, Hr 22.81 billion in January-July 2014 and Hr 12.07 billion in January-July 2013) and deposit fees (a rise of Hr 1.62 billion to 22.7 percent).
In addition, Hr 2.84 billion were additionally paid from excise duties on imported goods, and Hr 2.83 billion came from fees for the sale of foreign currency.
Revenues from internally paid VAT fell by 3.5 percent in January-July 2014, to Hr 47.75 billion, and revenues from imports VAT were down by 3.1percent, to Hr 53.85 billion, profit tax – by 18.9 percent, to Hr 28.07 billion, internal excise duties – by 8.6 percent, to Hr 13.77 billion and imports duty – by 8.8 percent, to Hr 5.67 billion.
VAT refunding in cash fell by 25.1 percent in January-July 2014 year-over-year, to Hr 25.07 billion.
Expenses of the national budget in January-July 2014 came to Hr 230.58 billion, a rise of 4.9 percent year-over-year, including a rise of 3.9 percent for the general fund, to Hr 205.74 billion.
Taking into account earlier published data, in July 2014, expenses of the general fund of the national budget decreased by 3.9 percent on July 2013 and by 5.8 percent on June 2014, to Hr 29.5 billion. The downward pace of expenses for the national budget in general was even worse: 18.2 percent in July 2013 and 6.8 percent on June 2014, to Hr 33.02 billion.
