The annual budget revenues indicators for 2020 were performed in full, despite the difficult situation at the beginning of the year (in January-April the general fund's revenues underperformance amounted to UAH 44.2 billion).
As of January 1, 2021, there is a record-high amount of funds at the State Treasury accounts - UAH 70.7 billion (UAH 12 billion in Hryvnia and UAH 58.7 billion equivalent in foreign currencies). And this is despite the fact that 2020 was a crisis year around the world due to the coronavirus pandemic.
This shows that the country has managed to cope with COVID-19 challenges. The state guarantees that all necessary expenses will be financed in full.
According to preliminary data of the State Treasury Service, in 2020, the general fund of the state budget received UAH 877.6 billion, the budget monthly plan was executed by 102.2%.
The revenues from payments controlled by the State Tax Service amounted to UAH 507.5 billion, or 110.7% which is UAH 49.2 billion more than the annual plan. At the same time, the VAT refund amounted to UAH 143.1 billion.
The overperformance was caused by the following payments:
The revenues of the general fund of the state budget from customs payments were UAH 297.0 billion, the budget annual plan was performed by 91.2%. At the same time, the budget monthly plan in December was overperformed by the State Customs Service by 23.5%, or + UAH 6.2 billion.
The overperformance of the annual budget revenues indicators, active and successful work of the Government in December 2020 to attract resources from domestic and foreign markets, enabled the financing of budget expenditures.
According to data, provided by the State Treasury Service of Ukraine, the expenditures of the general fund of the state budget amounted to UAH 1098.3 billion, or 96.7% of the budget annual plan (compared to 90.3% during the period of January-November 2020). At the same time, social expenditures, defense expenditures, debt, and transfers to local budgets are fully funded in accordance with a budget plan and payment orders.
In 2020, the state budget was executed with a deficit of UAH 215.5 billion, while the general fund's planned figure for the reporting period was UAH 274.5 billion.
Actual borrowings to the general fund of the state budget in 2020 amounted to UAH 621.5 billion or 93.8% of the planned amount for this period.
In total, government domestic borrowings in 2020 amounted to UAH 389.2 billion (94.6% of the plan), including:
The borrowings' amount from external sources for this period was UAH 232.3 billion (92.4% of the plan), including:
The principal repayment of public debt in 2020 amounted to UAH 385.5 billion, interest debt-service payments were UAH 119.6 billion.