Budget Chronicles: 4th quarter, 2014 Budget Analysis
Neither public revenue targets, nor public expenditure targets were reached in 2014. However, the Ukrainian government did not learn its lesson, and the budget for 2015 is not realistic either.
Cabinet of Ministers introduces amendments to budget for 2015 to Parliament Budget Analysis
The Cabinet of Ministers suggests 4.7 percent increase in revenue and 6.7 percent increase in expenditure. This is going to cause deficit to increase to 4.1% GDP. The debt limit is going to be increased by 18.6%.
2015 budget: an “empty” version Budget Analysis
On December 29, 2014, the Verkhovna Rada of Ukraine adopted the Law On State Budget 2015. The bill introduced to the parliament several days before the voting offered a too ambitious income plan (with an anticipated growth of over 30%), included a very wide fiscal gap (8.8% of GDP, including 3.7% GDP of the central budget deficit), and was too reliant on the money issue by the National Bank (the budget required to issue about UAH 200 billion).
Budget Chronicles: 3rd Quarter, 2014 Budget Analysis
In the third quarter of the 2014, four topics in the fiscal arena came to the fore in Ukraine: the impact of higher taxes on budget revenues, budgetary relations with the occupied territories of eastern Ukraine, the impact of fiscal policy on the local currency's destabilization and the beginnings of a new budget being formulated for 2015.
Ukrainian Budget Chronicles: The second quarter of 2014 Budget Analysis
Overall, budget execution during the 2nd quarter of 2014 was marked by a sharp increase in military spending and a dramatic decrease in tax revenue. As a result, the Ukraine's government revised the budget again as well as proposed a tax reform.
Ukrainian Budget Chronicles: The first quarter of 2014 Budget Analysis
In the first quarter the National Bank of Ukraine had to assist in achieving allotted state budget revenues. In order to do so, it transferred its projected income as an upfront payment into the state budget. Budget revenues for the first quarter of 2014 stood at 112.2 billion UAH, which is 5% higher than at the same time last year. Overpayment of taxes and delay in VAT refunds, which were previously notable offenders the sphere of public finance, became increasingly overshadowed as significant actors in the budgetary process of Ukraine.
Your “receipt” for the state budget of Ukraine, 2013: How to understand state budget Budget Analysis
“In 2013, consolidated budget revenues reached 442.7 billion UAH, or 30.4% of GDP, while pension fund revenues alone were 166.9 billion UAH, or 11.5% of GDP.” When it comes to public funds and the government budget, this seems to be about all we get from those in charge of allocating our tax money. Thus, how is someone with a monthly income of around 2000 – 3000 UAH meant to go about understanding these gargantuan economic figures? After all, just one billion UAH would constitute 28,000 years of hard labor for the average Ukrainian employee!
How much does the government cost? Why exactly am I paying taxes? Budget Analysis
The term “inter-budgetary relations” exists as a sort of “technical” term in the field of economic policymaking; hence, the general populace virtually never pays attention to such processes. In reality, however, a substantial number of issues that directly affect the quality of life of the average Ukrainian wholly depend on the smooth operation of this obscure mechanism.
Inter-budgetary relations: In search of the “golden mean” Budget Analysis
The term “inter-budgetary relations” exists as a sort of “technical” term in the field of economic policymaking; hence, the general populace virtually never pays attention to such processes. In reality, however, a substantial number of issues that directly affect the quality of life of the average Ukrainian wholly depend on the smooth operation of this obscure mechanism.