Ukraine's State Budget Execution Panel: Revenue, Expenditure, Deficit, and External Debt Linkage, 2008-2025
Description
This dataset provides an annual time series of Ukraine's state budget (central government) execution — revenue, expenditure, and deficit — in UAH, USD-equivalent, and as a share of GDP, for 2008-2025. It also links the series to Ukraine's gross external debt (2015-2025) via an author-calculated debt-to-revenue ratio, and to an implied nominal GDP series cross-validated against Derzhstat's official GDP releases. Note on scope: this dataset covers the STATE budget only (Державний бюджет), which excludes local government budgets. It is a different concept from Ukraine's "consolidated budget" (state + local budgets combined) and from "public debt" (a narrower, government-only debt concept); see the author's companion datasets in this series for those. The dataset supports research on Ukraine's fiscal trajectory from the pre-2014 period through the hybrid war, the 2022 full-scale invasion, and the resulting fiscal dependence on external financing. METHODOLOGY & SOURCES Revenue, expenditure and deficit figures in UAH and as % of GDP are taken directly from the Ministry of Finance of Ukraine's official state budget execution reporting and are not modified. USD-equivalent figures are converted using the NBU's official UAH/USD exchange rate as of 1 January of each year (a fixed, single annual rate, as documented in the Dictionary sheet); this is a deliberate methodological choice inherited from the source and is not an average- or period-actual-rate conversion, which matters especially for 2022-2023 given the July 2022 devaluation. implied_nominal_gdp_uah_mln is calculated by the author from revenue_uah_mln and revenue_pct_gdp, and was cross-checked against Derzhstat's independently published nominal GDP series (e.g. 2022: 5,191.0 bn UAH; 2023: 6,537.8 bn UAH; 2024: 7,658.7 bn UAH per Derzhstat) — the implied and published figures match to within 0.02%, confirming methodological consistency. Source accessed September 2026: - Ministry of Finance of Ukraine (Minfin) - State Budget execution; National Bank of Ukraine (NBU) - official exchange rate statistics. UAH/USD rate as of 1 January of the respective year, per NBU. - National Bank of Ukraine (NBU), Gross External Debt statistics (per IMF BPM6), accessed September 2026 CONTACT INFORMATION Illia Kyselov, PhD in Law Associate Professor, Department of Law, Bohdan Khmelnytsky Melitopol State Pedagogical University, Zaporizhzhia, Ukraine CMSA (R), FPWMP (R), and BIDA (R) (Corporate Finance Institute) Email: illiakyselov86@gmail.com The author is open to collaboration on Scopus-indexed publications and further research using Ukrainian economic and financial statistics. Inquiries regarding this dataset, potential co-authorship, or data requests are welcome.