State budget revenues grew by 7.6% last year – Finance Ministry
"The state budget in the reporting period was fulfilled by 99.1% of the annual indicator approved by the Verkhovna Rada with amendments ... In general, the state budget revenues in 2019 increased by 7.6% compared to 2018 and amounted to UAH 998.3 billion," the statement reads.
The Finance Ministry notes that in 2019 there were several factors that did not allow fulfilling the planned revenue indicators. The key factors were the strengthening of hryvnia, resulting in decreased customs revenues, a slower increase in imports (in particular due to lower prices for natural gas and petroleum products), a decrease in the production of tobacco products, and lower volumes of natural gas production.
In general, the state budget deficit in 2019 was kept within the limit approved by the Law “On the State Budget of Ukraine for 2019”, and the public debt in relation to GDP was reduced (below 50% of GDP according to preliminary estimates).
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