Treasury publishes data on state budget revenue

The Treasury has published preliminary data on revenue in the general and special funds of the State Budget.

According to the Treasury, as of Dec. 1, the State Budget received 308.7 billion UAH, including 266.4 billion UAH received in the general fund, which is up 7.2 billion UAH, or 2.8% year-on-year, and 42.3 billion UAH received in the special fund, the Information-Analytical Bulletin of the Cabinet of Ministers informs.

From January to November 2013, the VAT refunds amounted to 51.3 billion UAH, which is up 7.4 billion UAH, or 16.9% from 2012. Some 21.8 billion UAH were refunded automatically. 

Experts point out that, despite the global economic crisis and a significant drop of exports to Russia, associated with a reduction of the demand for investment goods, including those made in Ukraine, the government boosted state budget receipts year-on-year.

The government emphasizes that in the 11 months of 2013, the VAT refunds amounted to 7.4 billion UAH, which is more year-on-year. This means that in the 11 months of 2013, the state budget revenue is up 10.6 billion UAH from 2012.

At the same time, despite the difficulties in the economy and a political crisis in the country, it is very important that the government provides full funding for the protected state budget items.

Thus, according to the Treasury, the general fund of the state budget has already opened financing for the main protected budget items in the amount of 15.7 billion UAH. That is 100% scheduled allocations for December. Thus, all the public sector employees will get paid on time. All pensions and other social benefits will be also paid in full.

Experts say the government is capable to ensure payment of salaries, pensions and other social payments in December. At the same time, the political crisis jeopardizes payments for protected items of the state budget in early 2014.