Daily Insight-Public revenues for 7M10, Ukrainian Communist Party on grain exports, Avangard, Ferrexpo in the news

Revenues to the state budget grew 17% YoY in 7M10, reaching UAH136bn (US$17.2bn). Tax revenues for the period rose 22.9% YoY, while non-tax revenues grew 7.8%. In particular, revenues from VAT, the largest component of public revenues, rose 20.7% YoY, and from enterprise tax, the second-largest component of tax revenues, grew 16.5%. At the same time, public expenses grew 26.7% YoY in 7M10, to UAH164.9bn (US$20.8bn). It is worth noting that capital expenses grew by 80%; however, they comprise only 3.7% of the total public expenses of the state budget. Current expenses, which occupy a 96.2% share in the total, grew 25% YoY in 7M10.