The Monitoring of Main Indicators of Budget and Banking Systems of Ukraine

It contains a brief analysis and selections of graphs and charts illustrating the main changes occurring in the budget and banking systems of Ukraine. The publication is made possible by the generous support of the American people through the United States Agency for International Development (USAID). According to official data, the actual revenues of the consolidated budget of Ukraine totaled Hr 189.6bn in January-August 2010, which is Hr 13.7bn or 7.8% more year-on-year. Tax revenues accounted for 74.1% of the total against 74.5% in the respective period of 2009. The annual plan was implemented by 60.4%. The actual execution of the consolidated budget revenues amounted to 61.0% in January-August 2009. The actual revenues of the State budget of Ukraine totaled Hr 139.5bn in January-August 2010, which is Hr 8.7bn or 6.7% more year-on-year. The annual State budget plan was executed by 53.9%. The actual execution of the State budget revenues amounted to 60.1% in January-August 2009. A sharp decline in the revenue indicators of both the consolidated and State budgets is explained by accounting the amount of the internal government bond intended for reimbursing value-added tax, which totals Hr 16.4bn, as budget revenue. Were the budget indicators adjusted for the amount of VAT reimbursement arrears covered by the internal government bonds, the actual revenues of the consolidated budget of Ukraine would have totaled Hr 206.0bn in January-August 2010, which is Hr 30.1bn or 17.1% more year-on-year, and the actual revenues of the State budget of Ukraine would have totaled Hr 155.9bn, which is Hr 25.1bn or 19.2% more year-on-year. Total local budget revenues (without intergovernmental transfers) amounted to Hr 50.1bn in January-August 2010, which is Hr 4.9bn or 10.9% more than the respective indicator of 2009. The State budget deficit totaled Hr 44.2bn in January-August 2010, which is 2.7 times more year-on-year, including the General Fund deficit of Hr 24.8bn and Special Fund deficit of Hr 19.4bn. The General Fund deficit was financed in January-August 2010 at the expense of internal borrowing incurred in the amount of Hr 27.6bn, which is Hr 10.1bn or 26.8% less compared to the same period of last year; as well as external borrowing incurred in the amount of Hr 23.9bn, which is Hr 13.0bn or 35.2% less year-on-year. The debt repayment totaled Hr 14.7bn, which is Hr 6.3bn or 76.1% more year-on-year. The expenditures of the consolidated budget of Ukraine totaled Hr 230.3bn in January-August 2010 (including General Fund expenditures of Hr 188.9bn and Special Fund expenditures of Hr 41.4bn), which is Hr 80.4bn or 53.6% more year-on-year. The actual expenditures of the consolidated budget of Ukraine in August 2010 totaled Hr 28.2bn, which is 23.1% more year-on-year. The year-on-year growth trends were demonstrated in August of this year by expenditures in such sectors as healthcare (by 30.0%), education (by 22.2%), social protection and social security (by 19.9%), and agriculture, forestry and game-preserves, and fisheries (by 7.9%).