The deficit of the Ukrainian state budget in February 2023 increased to UAH 88.8 billion

In February 2023, the deficit of the state budget of Ukraine increased from 72.3 billion in January 2023 to 88.8 billion UAH, in particular, the deficit of the general fund increased from 78.9 billion in the previous month to 93.2 billion UAH. It is stated in a message on the website of the Ministry of Finance.

Cash expenditures of the state budget in February amounted to UAH 252.9 billion, including the general fund – UAH 226.7 billion, or 86.8% of the schedule for the reporting period.

According to operational data of the State Treasury Service, for February 2023, the general fund of the state budget received 132.2 billion UAH, in particular:

• 2.7 billion hryvnias of rent payment for subsoil use;
• UAH 2.3 billion in import and export duties;
• UAH 7.4 billion in corporate income tax.

In addition, UAH 51.4 billion of international grant aid was received in February.

UAH 142.8 billion was raised from external sources, in particular UAH 118.7 billion due to receiving a tranche of EU macro-financial assistance.

The income of the single social contribution to the Pension Fund and social insurance funds in this period amounted to UAH 36.8 billion.

As GMK Center reported earlier, the National Bank of Ukraine has downgraded the country’s gross domestic product (GDP) growth forecast in 2023 from 4% to 0.3% in the previous forecast. The worsening of expectations is primarily related to the consequences of energy terror on the part of the Russian Federation, as well as a revision of the assumption regarding the duration of security risks’ preservation. As a result of the latter, the full unblocking of ports is expected to be delayed, which will hold back the potential for export recovery.