The state budget deficit in January 2023 amounted to UAH 72.3 billion

In January 2023, the deficit of the Ukrainian state budget decreased from 99 billion to 72.3 billion UAH in December 2022, in particular, for the general fund – from 101.3 billion to 78.9 billion UAH in the previous month. It is stated in a message on the Ministry of Finance’s website.

Cash expenditures of the state budget in January amounted to UAH 193.7 billion, including the general fund – UAH 183.6 billion, or 80.6% of the schedule for the this period.

According to operational data of the State Treasury Service, in January 2023, the general fund of the state budget received UAH 104.4 billion, in particular:

• 5.6 billion rent for subsoil use;
• 2 billion in import and export duties;
• 1.2 billion in corporate income tax.

In addition, UAH 36.6 billion of international grant aid was received in January.

UAH 118.7 billion (€3 billion) was raised from external sources due to the receipt of a tranche of EU macro-financial assistance.

In this period, the receipts of the single social contribution to the Pension Fund and social insurance funds amounted to UAH 32.4 billion.

As GMK Center reported earlier, the National Bank of Ukraine worsened 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.