Ukrainian budget deficit doubles in 7 months
2012-08-30 18:01:09
Ukrainian's state budget deficit doubled to Hr 16.94 billion in January-July, from Hr 8.62 billion in the same period of last year, the Finance Ministry has said.
The deficit soared by Hr 10.23 billion in July.
Budget revenue grew 10.5% year-on-year in seven months to Hr 186.58 billion, and cash spending rose 14.4% to Hr 200.54 billion.
Privatization revenue was Hr 5.11 billion in seven months. Government borrowing was Hr 68.29 billion, up UAH 18 billion the space of a month due to a eurobond placement of $2 billion.
Spending on servicing principal debt came to Hr 33.63 billion, including Hr 14.53 billion in foreign debt.
This year's state budget targets Hr 370.8 billion in revenue and Hr 396.7 billion in spending, up 17.9% and 19%, respectively, from 2011.
The 2012 budget caps the deficit at Hr 25.13 billion. The deficit was Hr 23.6 billion last year.