Revenue losses were
government revenues continue to decline. In the general fund budget in September received a total 8.8 billion UAH - the lowest figure for two years. The income the state treasury as compared to September 2008 fell by 40%. Given the 20 percent reduction in income since the beginning of the year, experts are confident in the impossibility of fulfilling the plan to bring the budget in the IV quarter of 73.3 billion UAH - Cabinet would wipe up to 34 billion UAH.
State Treasury on Friday announced the operational details of income to the state budget: in January-September, in its general fund transferred to 107.42 billion UAH, that on 0,2% more than plan. Of these, in September - UAH 8.85 billion, which was the lowest amount of monthly revenue budget in 2008-2009. Plan for September State Treasury does not disclose, but compared to September 2008 revenues fell by 40%, or 5.85 billion UAH.
State customs house is not released information on the collection of taxes in September (in August - 6.5 billion UAH), and the State Tax Administration reported collecting 8.62 billion UAH: in particular, income tax paid 2.19 billion UAH, excise - 1.52 billion UAH. Dynamics of the VAT is unknown. But the amount of VAT refunds to more than twice the level of August and reached a record $ 7.115 billion UAH due to compensation NAK Naftogaz Ukraine over 4 billion UAH. The balance of taxes in the general fund budget totaled only 1.5 billion UAH.
situation with the implementation of the budget for the 9 months also remains dismal. With the planned reduction of budget revenues this year to 1,1% in January-September drop in tax payments compared to the same period in 2008 had already reached 20%, or 26.9 billion UAH. So for 9 months raised only 58,4% of theannual plan (a year ago - 71,9%). In IV quarter are expected to reach 76.56 billion taxes UAH, or 25.52 billion UAH monthly. Given the 20-percent drop in tax revenues, the budget may be short of 33.76 billion UAH.
Experts estimate that by year-end rate of falling incomes could accelerate to 23% - and part of the hole Cabinet will try to block the payments due to National Bank in the amount of 9.8 billion UAH. The NBU is under pressure in the form of instituting criminal proceedings, so they probably can agree, - said a senior economist at the center of CASE-Ukraine Vladimir Dubrovsky. In addition, it is not known whether the draft bill deputy Oleg Lyashko (YTB), who proposed to legalize the advance payments and the payment of the November tax profit for the year, - adds an economist of the National Institute for Strategic Studies Alex Moldovan.
key month for the fiscal authorities was to be August (the deadline for income tax for the II quarter), but since this month was also a shortfall, then collect more 73 billion UAH in the IV quarter would be unrealistic, I'm sure Mr. Moldovan. There is no reason to expect growth in tax deductions. Companies pay huge sums in advance (12 billion UAH) and at the end of the year will reduce the balance, - believes Mr. Dubrovsky. In this case, according to analysts, the Cabinet will have to cut expenses or to finance the increased deficit.
International Monetary Fund agreed on a budget deficit amounting to 8.6% of GDP - the missing 33.7 billion UAH will increase its deficit to 3,7%.
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