Ukraine’s national debt has doubled since the beginning of the war

This is happened primarily due to the acquisition of concessional loans from the West. The total national debt now exceeds 143 billion euros. Over the past year, it increased by 35.4%, equivalent to 31 billion euros.

The ratio of the national debt to GDP has also risen to 85%, up from 78.4% in 2022, and considerably higher than the pre-war figure of 48.9% in 2021. According to IMF forecasts, Ukraine’s national debt is expected to exceed 100% of GDP by the end of 2025.

In essence, the Ukrainian economy is no longer able to sustain itself independently. The survival of the state depends heavily on foreign aid, and without it, the entire system could collapse in a matter of months. However, Kyiv lacks a contingency plan and both Europe and the United States have significantly reduced their assistance. Despite numerous negotiations, there have been no tangible results.