Ukraine's Budget: 4 Sectors Provided Over Half of All Revenues

Ukraine's Budget: 4 Sectors Provided Over Half of All Revenues

According to ХВИЛЯ: In the first 10 months of 2024, more than half of the total revenues of the consolidated budget were provided by 4 sectors of the economy. The leaders in terms of paid payments were:

• processing industry;
• wholesale and retail trade;
• public administration;
• financial activity.

The processing industry contributed 17.7% to the total volume of revenues. Wholesale and retail trade, as well as the repair of motor vehicles and motorcycles, provided 16.7% of revenues. Public administration and defense, as well as mandatory social insurance, accounted for 12.2% of total revenues. Financial and insurance activities added 8.7% to the budget.

Growth of Tax Revenues

The highest growth in tax revenues was recorded in the processing industry, where the figure increased by 27% (+63.7 billion UAH). Wholesale and retail trade also showed significant growth of 25.9% (+58 billion UAH). In the field of public administration and defense, there was an increase of 28.1% (+45.3 billion UAH). Moreover, the supply of electric power, gas, steam, and air conditioning increased by 27.9% (+21.7 billion UAH).

Lesya Karnauh holds the position of Acting Head of the State Tax Service of Ukraine.

This data indicates the recovery and growth of the Ukrainian economy after numerous challenges faced by the country. The significant increase in tax revenues in key sectors may indicate an improvement in the business climate and activation of economic activity, which is important for stabilizing state finances. In the context of global economic changes, supporting these sectors may become a decisive factor for further economic growth in the country.