State budget revenues exceeded target plan in 2020 – Finance Ministry

The latest data provided by the State Treasury Service shows that the general fund of the state budget received UAH 877.6 billion in 2020, which is 102.2% of the target plan. General fund’s expenditures amounted to UAH 1,098.3 billion, or 96.7% of the target plan.

At the same time, social, defense expenditures, debt service, subventions and subsidies to local budgets are fully funded in accordance with the budget plan and payment orders.

Actual government borrowings to the general fund of the 2020 state budget amounted to UAH 621.5 billion, or 93.8% of those planned for this period. Of these, government domestic borrowing in 2020 amounted to UAH 389.2 billion (94.6% of the target plan).

The ministry also reported that UAH 232.3 billion (92.4% of the target plan) was attracted from external sources during this period.

However, payments on repayment of public debt in 2020 amounted to UAH 385.5 billion (99.7% of the target plan), payments on its servicing - UAH 119.6 billion (88.0% of the target plan).

In addition, the Finance Ministry hailed the work of the State Tax Service, which exceeded its annual target plan by 10.7%. Thus, the state budget received additional UAH 49.2 billion of tax revenues.

In total, in 2020, the state received UAH 507.5 billion from payments controlled by the State Tax Service, which is UAH 49.2 billion more than the annual target plan.

At the same time, the State Customs Service failed to fulfill its target plan for 2020: last year the customs brought UAH 297 billion to the state budget, which is 8.8% less than the target plan. However, in December, the State Customs Service exceeded its monthly plan by 23.5%, or UAH 6.2 billion.

As reported by Ukrinform, the state budget of Ukraine for 2021 was published in the official parliamentary newspaper Holos Ukrainy on December 30.

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