On the outcomes of 2019, revenues of the General Fund of the State Budget increased by 5.5% pp. up to UAH 879.8 billion. These are the recent data from the State Treasury Service of Ukraine (STSU) on the preliminary results of the fiscal year of 2019. The Finance Ministry has prepared the commentary on the closure of the 2019 fiscal year: operational data.
As a result of the year, the Government has funded in full amount the critical protected headings of expenses and other expenditures that contribute to the development of the economy and the well-being of citizens.
According to the STSU data, the total deficit was under the planned showing and amounted to UAH 81.2 billion (which is estimated at about 2.0% of GDP). In particular, the deficit of the General Fund of the State Budget was within the target of UAH 69 billion.
For the first time in the last 5 years, the government borrowing plan has been fully implemented, which was made possible due to an effective public debt management policy.
In 2019, the Finance Ministry has approved 2020 Budget ahead of schedule. There was also determined a list of 114 budget programs along which the main spending departments should prepare or make changes to the procedures for the use of funds in order to ensure the timely and effective financing of budget programs. The main spending departments will have to approve passports of budget programs with quality indicators of efficiency by February 15, was announced by the Finance Ministry. From the first working day of 2020, the STSU starts to finance budget programs, and therefore all authorities continue a coordinated work to ensure the smooth financing of budgetary commitments.