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Source: Government of Ukraine

The increase in budget revenues has proved possible due to the effective struggle of the state against various schemes and plots, due to which the tax authorities collected by UAH 60 billion more than expected.

Prime Minister Denys Shmyhal announced during the wrap-up meeting of the Cabinet of Ministers of Ukraine on December 28.

The Head of Government stressed that the rise in budget earnings had been achieved without increasing the tax burden on businesses.

“In addition, most inspections, including tax inspections, were banned. VAT is reimbursed in full,” Denys Shmyhal stressed.

According to the Prime Minister, revenues from privatization amounted to UAH 2.5 billion this year. According to him, this exceeds the earnings of 2018 and 2019 altogether.

“This year the concession instrument has become fully operational. Two Ukrainian ports have been transferred to concession, thereby making it possible to attract billions of hryvnias of investments into the country’s economy,” the Head of Government noted.

Denys Shmyhal also noted that in October-November the recovery of exports had begun, and in November – the recovery of industry.

“We see positive dynamics in terms of wage growth, retail trade. All these factors should contribute to the fact that the Ukrainian economy will grow by 4.6% in 2021,” the Prime Minister stressed.

MIL OSI Europe News