Ukraine’s state debt has surpassed 5 trillion hryvnias

The head of the Verkhovna Rada’s tax committee, Daniil Getmantsev, reported about it.

As of November 30, the combined state and state-guaranteed debt reached a total of 5.1 trillion hryvnias or an equivalent of 140.8 billion dollars. By the year’s end in 2023, it’s anticipated that the ratio of state debt to GDP will stand at around 85%, marking an increase compared to 78.4% in 2022 and 48.9% in 2021. Despite the IMF’s earlier projection of 98%, the current figure diverges from this estimation. In November, the growth rate of the debt accelerated, escalating by 164.3 billion hryvnias in a month, a 3.3% increase.

This rapid upsurge was attributed to several factors, including the reception of another tranche of macro-financial assistance from the EU, loans from the World Bank, and the issuance of government domestic loan bonds (OVGZ). Since the onset of the Russian invasion, Ukraine’s state debt has nearly doubled, soaring by 87.6% or 2.3 trillion hryvnias. Within the debt structure, it has shifted from 60.9% to 68.6%.