Shrinking Trade Deficit, Tax Revenues Higher than Projections

Shrinking Trade Deficit, Tax Revenues Higher than Projections
🔵 With Ukraine’s imports and exports of goods up by 26%, the trade deficit has dwindled to $1.1 billion for the first five months of this year. May 2021 saw a trade surplus of $261 million, the State Statistics Service reported Friday. At the start of 2021, some economists forecast a goods trade deficit of $8 billion.
🔵 Concorde Capital’s Evgeniya Akhtyrko wrote: “A surge in exports of ferrous metals and mineral products is a result of an incredibly favorable price situation on global markets.  A surge in imports of vehicles is likely caused by a new wave in the purchase of used automobiles abroad by individuals amid another extension of tax privileges on their imports.”
🔵 In another sign of economic recovery, the government received 6% more tax revenues in the first half of the year than targeted, Prime Minister Shmygal announced to the Rada on Friday. The government received an extra $1.3 billion in tax revenue.
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