State budget revenues fall UAH 38B short of H1 2020 target - Patskan

Summing up the results of the state budget in the first half of 2020, Patskan noted the deepening of negative trends in the economy: a 6.7% decrease in real GDP (according to experts of the Accounting Chamber), an 8.3% drop in industrial output, a decrease in lending and the outflow of foreign direct investment.

According to the Chairman of the Accounting Chamber, state budget revenues fell UAH 38 billion, or 7.8%, short of the target. As a result of a 19.7% decrease in imports in the first half of the year, according to Patskan, UAH 14 billion in revenue was lost.

According to Patskan, expenditures on the repayment and servicing of public debt amounted to UAH 220 billion, or almost a third of total state budget expenditures in the first half of 2020.

This spring, the Verkhovna Rada approved amendments to the state budget for 2020, according to which the state budget deficit was increased by UAH 202 billion, to UAH 298.4 billion, revenues reduced by UAH 119.75 billion, to UAH 975.8 billion, and expenditures increased by UAH 82.4 billion, to UAH 1.266 trillion.

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