Deficit of Ukraine`s budget shrinks by almost 8% in Q1 2017

The deficit of Ukraine`s national budget in January-March 2017 was estimated at UAH 9.741 billion, or US$366.75 million, which was 7.8% lower than the deficit recorded over the same period in 2016 at UAH 10.567 billion, or $397.85 million, according to Ukraine`s Treasury Service.

Revenues of the state budget over the period under review amounted to UAH 174.757 billion, while expenses stood at UAH 184.556 billion, the service said.

The consolidated budget in January-March 2017 saw a surplus of UAH 4.007 billion, which was 3.6% up year-over-year (UAH 3.869 billion).

Revenue of the consolidated budget over the period under review was estimated at UAH 220.490 billion, whereas expenditures stood at UAH 216.529 billion.

Earlier, Ukraine reported a budget deficit in 2016, which amounted to UAH 70.130 billion, or 2.9% of GDP.

Ukraine`s national budget for 2017 foresees revenues at UAH 731 billion, and spending at UAH 800 billion. A cap on the deficit of the budget is placed at UAH 77.5 billion, which is also 3% of GDP.

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