Investor Presentaiton
Loosened 2020 fiscal policy to minimize loss in economic growth
2020 state budget revenues split (2020 State budget Law¹)
Revised state budget revenues: UAH 976 bn
2020 state budget expenditures split (2020 State budget Law¹)
Revised state budget expenditures: UAH 1,266bn
Due to Covid-19, the
State budget 2020 was
revised in April 2020 in
Prior to revision
Revised
■ VAT
20%
15%
1%
Prior to revision
■Social protection
Revised
9%
2%
4%
4%
25%
5%
the following manner:
• Total revenues:
UAH 976bn (-11%)
■Personal income tax
25%
7% 8%
UAH 1,096 bn 41%
39%
UAH 1,182 bn
Corporate income tax
8%
21%
Total expenditures:
9%
UAH 976 bn
UAH 1,266 bn
UAH 1,266bn (+7%)
20%
Other tax revenues
12%
Security and defense
■Interbudgetary transfers
■Debt service
Health
Economic activity
22%
Budget deficit2:
■ Education
11%
12%
Non-tax revenues
12%
21%
14%
UAH 298bn / 7.5% of
GDP in 2020
10%
11%
12%
Public administration
■ Other
(government forecast)
Overall state budget balance³, UAH bn
Plan Act.
Plan Act.
Plan Act.
(70)
(48)
(59)
(81)
(298)
(69) || (64)
(62) (55)
(58) (45)
State budget general fund performance³, UAH bn
Plan
Overall
(274) balance
Plan Act.
(70)|(69)
(1.6%)
(2.9%)
(1.7%)
(2.0%)
702 698
843 834
908 880
855
576 575
Notes
1
According to State Budget Law
2020 amended as of Apr 2020
2
Budget deficit defined as
revenues minus expenditures
and minus net lending
3
Based on historical data for
2017-2019; based on Budget
Law revised as of April 2020
and 2020 GDP forecast of the
NBU for 2020
2016
2017
2018
Overall balance, UAHbn
(0.2)%
(1)%
(1)%
(3)%
(1)%
(1)%
(2)%
(3)%
(7.5%)
(645) (639) (764) (753)
(901) (879)
(978) (949)
2019
2020
Source State Treasury of Ukraine, NBU
Overall balance to GDP, %
2016
■Revenue (plan)
■ Expenditures and net lending (plan)
Source State Treasury of Ukraine
■Revenue (actual)
■ Expenditures and net lending (actual)
2017
2018
2019
(1 130)
2020
July 2020
17View entire presentation