Ukraine must pay off almost $116 billion in foreign debt by 2045

The volume of Ukraine's payments on its state and state-guaranteed debt over the next 28 years, until 2045 included, will amount to UAH 3.045 trillion ($116 billion).

According to the schedule of payments published on Finance Ministry website, the payments within said period will include debt payoff at $74.4 billion (UAH 1.929 trillion) and another $43.0 billion (UAH 1.116) trillion in debt servicing.

The Ministry of Finance says in the period from 2018 to 2022 inclusive, Ukraine will have to pay $50.26 billion (UAH 1,303 trillion) in debt repayment and debt servicing.

This year, debt payments will amount to over $12.6 billion (UAH 327.7 billion), in 2019 they will stand at $12.1 billion (UAH 313.9 billion), in 2020 – at $10.26 billion (UAH 265.9 billion), in 2021 – $8.56 billion (UAH 222.4 billion), and in 2022 – at $6.67 billion (UAH 173.2 billion).

Read alsoUkraine's Cabinet wants to reduce state debt to 60% of GDP by 2020 – finance ministerIn the period from 2023 to 2027 such payments will amount to $31 billion (UAH 805.3 billion), from 2028 to 2032 they will stand at $22.8 billion (UAH 593.1 billion), from 2033 to 2037 – at $6.51 billion (UAH 169.6 billion), and from 2038 to 2045 – at $52.1 billion (UAH 173.5 billion).

As UNIAN reported earlier, according to the finance ministry report on the implementation in 2017 of the medium-term strategy of public debt management for 2017-2019, the state budget expenditures for state debt repayment and servicing in 2017 amounted to $18.3 billion (UAH 474 billion), including $14 billion (UAH 363.5 billion) in debt payments and another $4.26 billion (UAH 110.5 billion) for servicing.

State and publicly guaranteed debt of Ukraine for 2017 grew by 7.5% - to $76.3 billion in dollar terms, and by 11% - to UAH 2.1 trillion - in hryvnia equivalent, which is about 72% of GDP.