Ukraine surpassed its budget revenue targets by almost $200 million in the first half of the year

Friday, February 28, 2020

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Ukraine surpassed its budget revenue targets by almost $200 million in the first half of the year, the finance minister said Monday. Viktor Pynzenyk told a news conference that Ukraine had seen 43 bln hryvnias ($8.6 bln) flow into the treasury in January through June 2006, 914 mln hryvnias ($183 mln) above the target of 42.1 bln hryvnias ($8.4 bln). "Last year's budget was extraordinarily challenging in terms of economic decisions, whereas the 2006 budget is to a certain extent under the influence of the political situation and the recent election campaign," Pynzenyk said. "Nevertheless, [we] finished the half-year budget period successfully." He said, however, that profit tax and rent payments had not brought in as much in budget revenues as other sources. According to the Finance Ministry, Ukraine's actual half-year budget deficit was 5 bln hryvnias ($1 bln), $860 mln below the projected 9.3 bln hryvnias ($1.86 bln).

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