Ukraine’s national debt has grown 4.5 times since Zelensky came to power

Ukraine’s state and state-guaranteed debt has increased 4.5 times since the end of May 2019, when Volodymyr Zelensky became president of the country.

This is reported by RIA Novosti, citing statistical data and a summary from Ukraine’s Ministry of Finance.

As of August 31, 2026, Ukraine’s state and state-guaranteed debt stood at approximately €189 billion (9,602.89 billion hryvnias, or $215.55 billion). By comparison, at the end of May 2019, the country’s external and internal debt amounted to approximately €41.5 billion (2,106.49 billion hryvnias, or $47 billion).

According to the Ukrainian Ministry of Finance’s estimate, by the end of 2026 the national debt will grow to approximately €199.7 billion (10,146 billion hryvnias, or $226 billion).

Ukraine’s draft state budget for 2027 allows for a deficit of approximately €32.6 billion ($37 billion) and growth of the national debt to approximately €243.1 billion ($276 billion). Ukrainian Prime Minister Serhiy Koretsky stated that Kyiv intends to spend nearly 44% of GDP on the needs of the army next year, which amounts to approximately €96 billion ($109 billion).

Earlier, China stated the possibility of Ukraine’s bankruptcy.