The deficit of the national budget of Ukraine in the first quarter of 2019 was Hr 25.3 billion with the approved annual figure of Hr 90 billion, such preliminary data of the State Treasury Service were voiced by the Ministry of Finance.
“The deficit was financed by government borrowings. Privatization receipts amounted to Hr 184 million,” the ministry said in a press release.
According to its data, at the expense of government domestic loan bonds the national budget was financed by Hr 87.3 billion (Hr 57.3 billion, $1 billion and €38.7 million), a loan of €529.2 million was raised under the guarantee of the World Bank, and eurobonds worth $350 million with maturity in 2028 were additionally placed.
The ministry said that in the first quarter of 2019, state budget revenues increased by 8.7 percent compared to the same period of 2018, to Hr 210.5 billion, making up 95.3 percent of the target, in particular general fund receipts were Hr 178.2 billion, or 91.8 percent of the plan.
Among the reasons for the under-fulfillment of the plan, the ministry named the reduction in tobacco production, the release of solar panels imports from VAT from January 2019, the decline in natural gas imports by Naftogaz Ukrainy, the strengthening of the hryvnia, and the overpayment of natural gas royalty for Hr 600 million as of the beginning of February.
