State budget revenues for first 10 months of 2025 increased by 26.4%, expenditures by 21.3% – Finance Ministry

Revenue from taxes, fees, and mandatory payments to the general and special funds of the state budget of Ukraine for January-October 2025 amounted to UAH 2.97 trillion, while cash expenditures amounted to UAH 4.06 trillion, which is approximately 26.4% and 21.3% higher than the corresponding figures for the same period in 2024.

According to the latest data from the State Treasury Service, which the Ministry of Finance published on its website, general fund revenues increased by 26.1% to UAH 2.11 trillion, while expenditures increased by 18.9% to UAH 3.16 trillion.

In October of this year, state budget revenues increased by 44.9% compared to October of last year, reaching UAH 258.4 billion, including a 45.5% increase in general fund revenues, reaching UAH 186.4 billion. This is due to the receipt of UAH 38 billion in grants last month, compared to none in October 2024.

It is noted that the largest source of revenue for January-October of this year remains VAT on goods imported into the customs territory of Ukraine - UAH 440.6 billion (for the 10 months of 2024 - UAH 384.2 billion).

Following the increase in the military tax from 1.5% to 5% and the introduction of UAH 20,000 salary reservation requirement, personal income tax and the military tax rose from fourth to second place in revenue for the first 10 months of this year – UAH 293 billion, compared to UAH 177.9 billion last year.

In third place this year is VAT on goods produced in Ukraine - UAH 255.8 billion with a refund of UAH 148.2 billion (UAH 222.1 billion with a refund of UAH 124.1 billion), while corporate income tax amounted to UAH 224.3 billion (UAH 207.0 billion) and fell to the fifth place, and excise tax overtook it and amounted to UAH 232.6 billion (UAH 170.2 billion).

In addition, dividends and portions of net profit of state-owned companies amounted to UAH 64.5 billion (UAH 66.8 billion), import and export duties - UAH 45.3 billion (UAH 39.9 billion), and rent for subsoil use - UAH 34.9 billion (UAH 39.1 billion).

The Ministry of Finance added that the National Bank's profit added another UAH 84.2 billion (UAH 38.6 billion) to the budget, while grants added UAH 346.8 billion (UAH 269.2 billion).

Revenues from the unified social contribution to pension and social insurance funds in January-October 2025 increased by 21.9% to UAH 537.3 billion, including by 21.5% in October to UAH 58.1 billion.

The Ministry of Finance also reported that, within the framework of financing the general fund of the state budget, government borrowing into it for January-October 2025 amounted to UAH 1.62 trillion, or 93.6% of the plan. Of this, UAH 473.5 billion was received on the domestic market from the placement of government bonds, including UAH 110.8 billion in foreign currency - $1.94 billion and EUR 638.3 million. Moreover, UAH 207.6 billion was raised through the issuance of military government bonds.

According to the release, approximately $27.7 billion, or UAH 1.15 trillion, was received from external sources, including approximately $19.2 billion within the ERA, with the total volume of this mechanism reaching $50 billion.

In addition, Ukraine received EUR 6.14 billion from the EU under the Ukraine Facility, $0.96 billion from the International Monetary Fund (IMF), and $0.57 billion from the World Bank under the projects "Transforming Healthcare through Reform and Investing in Efficiency" (THRIVE), "Delivering Resilient Infrastructure in Vulnerable Environments" (DRIVE), "Supporting Reconstruction through Smart Fiscal Governance" (SURGE), "Supporting Internally Displaced Persons in Ukraine" (HOME), and "Modernization of the Social Support System in Ukraine."

Payments to repay the public debt for January-October 2025 amounted to UAH 530.0 billion, or 96.4% of the plan, payments for servicing - UAH 279.9 billion, or 99.8% of the plan.