Ukraine misses $278 million in January taxes amid attacks
Energy infrastructure destroyed by Russian attacks (Photo: REUTERS / Stringer)
Ukraine fell short by about 12 billion hryvnias ($277.6 million) in customs and tax collections to the general fund in January 2026, primarily due to a drop in VAT caused by damage to the energy sector, Prime Minister Yulia Svyrydenko said on Feb. 16, according to the Ukrinform news agency.
The prime minister said the shortfall stemmed mainly from the energy situation, forcing Ukraine to maximize electricity imports.
"But the situation remains difficult, with the most challenging conditions in the Sumy, Poltava, and Kharkiv oblasts, where up to six rounds of power cuts are still in effect and electricity is available for only 1-2 hours a day," said the official.
Overall, the State Tax Service collected 79.4 billion hryvnias ($1.8 billion) in January (91.8% of the plan) for the general fund of the state budget.
National Bank of Ukraine Governor Andriy Pyshnyy noted that the increased electricity deficit in 2026 is expected to slow real GDP growth by about 0.4 percentage points this year.
The consequences of strikes on energy facilities and the resulting power shortages will also strengthen pro-inflationary pressures.
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