Рівень споживчої інфляції протягом 2016-2020 рр.
Рекордні прибутки банків на тлі скорочення кредитування підприємств
Обслуговування державного боргу 2019
State Budget Revenue to GDP Is Declining
Revenue target of the state budget for 2020 was reduced by the Ministry of Finance by 1.4 pp. of GDP to the target for 2019 and 1.9 pp. of GDP to actual revenue of 2018.
However, the expected changes in legislation and macroeconomic indicators cannot account for this reduction.
The official revenue of the State Budget was reduced by about UAH 30 billion, or 0.7% of GDP.
This can be explained by weak tax administration of the State Tax Service and the Customs Service, the logic of which is set for the future.
It is also influenced by the creation of a certain “margin of safety” in case of unjustified increase of the expenditure and revenue part of the budget by the Verkhovna Rada.
Consolidated Budget Expenditures in % to GDP
This budgetary policy affects the most vulnerable segments of the population, mitigates the role of the state as a guarantor of human survival in difficult life circumstances, and is a factor in the degradation of human capital development spheres, thus reducing the competitiveness of the nation’s workforce.
On the other hand, a substantial increase in government expenditures on public order, security, and judiciary, and government debt service after 2013 has no rational economic justification.