Record-Breaking International Aid Inflows Boost Ukraine's Budget
Date: 2023-12-03 Author: Dima Zakharov Categories: ECONOMY
International Support Surges:
From January to November 2023, Ukraine's national budget received a total of 1,536.0 billion hryvnias. International grants, amounting to 404.9 billion hryvnias, played a pivotal role in bolstering the country's finances. The United States emerged as the leading contributor, providing a substantial 398.5 billion hryvnias. Additionally, Ukraine secured funding from Germany, Spain, Finland, Ireland, Switzerland, Belgium, and Iceland, totaling 6.4 billion hryvnias. These funds were channeled into Ukraine's budget through the World Bank's PEACE in Ukraine project.
Tax Revenues and Expenditures:
For the period of January to November 2023, tax revenues, fees, and other payments contributed a total of 2,397.3 billion hryvnias to the national and special funds of the state budget.
Budget Deficit and Expenditures:
According to the State Treasury Service, the budgetary expenditures for January to November 2023 amounted to 3,451.8 billion hryvnias. The budget was executed with a deficit of 1,045.1 billion hryvnias, including a general fund deficit of 1,085.6 billion hryvnias.
Monthly Inflows and Fiscal Control:
In October 2023 alone, the national budget received 139.4 billion hryvnias. Notably, the State Tax Service achieved 102.3% of its revenue budget, surpassing it by 15.6 billion hryvnias, while the State Customs Service reached 95.1%, falling short by 18.3 billion hryvnias.
From January to November 2023, Ukraine's national budget received a total of 1,536.0 billion hryvnias. International grants, amounting to 404.9 billion hryvnias, played a pivotal role in bolstering the country's finances. The United States emerged as the leading contributor, providing a substantial 398.5 billion hryvnias. Additionally, Ukraine secured funding from Germany, Spain, Finland, Ireland, Switzerland, Belgium, and Iceland, totaling 6.4 billion hryvnias. These funds were channeled into Ukraine's budget through the World Bank's PEACE in Ukraine project.
Tax Revenues and Expenditures:
For the period of January to November 2023, tax revenues, fees, and other payments contributed a total of 2,397.3 billion hryvnias to the national and special funds of the state budget.
Budget Deficit and Expenditures:
According to the State Treasury Service, the budgetary expenditures for January to November 2023 amounted to 3,451.8 billion hryvnias. The budget was executed with a deficit of 1,045.1 billion hryvnias, including a general fund deficit of 1,085.6 billion hryvnias.
Monthly Inflows and Fiscal Control:
In October 2023 alone, the national budget received 139.4 billion hryvnias. Notably, the State Tax Service achieved 102.3% of its revenue budget, surpassing it by 15.6 billion hryvnias, while the State Customs Service reached 95.1%, falling short by 18.3 billion hryvnias.
