Ukrainian Budget System - Six Month of 2009
02 July 2009
Ukrainian Budget System Development Trends: Results of Six Months of 2009
On the results of first six months of 2009 IBSER experts has prepared a short overview of the Ukrainian budget system development trends.
On the results of first six months of 2009 IBSER experts has prepared a short overview of the Ukrainian budget system development trends.
According to operational data of the State Treasury of Ukraine (http://www.treasury.gov.ua/main/uk/publish/article/113771), the State budget revenues totaled Hr 90.4bn as of 1 July 2009.
In particular, the General Fund revenues totaled Hr 71.9bn or 39.1% of the annual plan. To compare, in January-June 2008, the budget received Hr 83.4bn or 49.4% of the approved annual plan.
The Special Fund revenues of the State budget were recorded at Hr 18.5bn (without own revenues of budgetary institutions) in the first six months of 2009, which amounts to 33.6% of the annual target. However, revenues of the Special Fund of the State budget totaled Hr 21.4bn in the same period of 2008, which amounted to 46.2% of the annual plan.
Therefore, the State budget revenues decreased both in absolute terms (by Hr 14.4bn) and in relative terms (by 13.7%) in the first half of 2009.
In particular, the General Fund revenues totaled Hr 71.9bn or 39.1% of the annual plan. To compare, in January-June 2008, the budget received Hr 83.4bn or 49.4% of the approved annual plan.
The Special Fund revenues of the State budget were recorded at Hr 18.5bn (without own revenues of budgetary institutions) in the first six months of 2009, which amounts to 33.6% of the annual target. However, revenues of the Special Fund of the State budget totaled Hr 21.4bn in the same period of 2008, which amounted to 46.2% of the annual plan.
Therefore, the State budget revenues decreased both in absolute terms (by Hr 14.4bn) and in relative terms (by 13.7%) in the first half of 2009.
Payments on State debt obligations for the General Fund of the State budget have been made on a timely basis according to the State Treasury data (http://www.treasury.gov.ua/main/uk/publish/article/113891). In particular, expenditures for servicing the State debt totaled Hr 3.1bn in the first half of 2009, including Hr 1.4bn for internal debt and Hr 1.7bn for external debt. This amounts to 13.9% of the annual plan for internal borrowing and 34.1% of the annual plan for external debt.
Expenditures for repayment of the State debt totaled Hr 3.1bn in the first half of 2009, which amounts to 11.3% of the annual plan.
The State borrowing totaled Hr 19.6bn in January-June of this year, which amounts to 22.0% of the annual plan. To compare, the State budget borrowing totaled Hr 2.1bn in January-June 2008, which amounted to 13.2% of the annual plan; and repayment totaled Hr 2.3bn or 38.9% of the annual plan.
The above data show a trend towards gradual increase of the State debt in the first half of 2009.
Expenditures for repayment of the State debt totaled Hr 3.1bn in the first half of 2009, which amounts to 11.3% of the annual plan.
The State borrowing totaled Hr 19.6bn in January-June of this year, which amounts to 22.0% of the annual plan. To compare, the State budget borrowing totaled Hr 2.1bn in January-June 2008, which amounted to 13.2% of the annual plan; and repayment totaled Hr 2.3bn or 38.9% of the annual plan.
The above data show a trend towards gradual increase of the State debt in the first half of 2009.
Glyanec