Central fiscal revenues in Ukraine increased in the first four months of 2019 primarily due to a transfer of profits from the national bank, wage growth, and increased natural gas extraction. However, revenues were also lower than expected in some areas like VAT and tobacco taxes. Government expenditures were largely financed as planned, with the largest allocations going to wages, social protection, defense, and debt servicing. The budget surplus decreased compared to the same period in 2018. Ukraine recently transitioned from an IMF Extended Fund Facility program to a new 14-month Stand-By Arrangement.