National Bank predicts Ukraine's public debt by year-end

Deputy Governor of the National Bank of Ukraine (NBU) Dmytro Sologub says the country's public debt at the end of 2019 will be below 55% of GDP due to the strengthening of Ukraine's national currency, the hryvnia, while earlier this ratio exceeded 80%.

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Sologub added a strong hryvnia partially reduces budget revenue, according to the NBU's press service.

"But, at the same time, let's imagine an investor who looks at a country with a public debt of 60% of GDP, and an investor who sees a country with a public debt of less than 50% of GDP. And how does this translate into his expectations of the interest rate on this country's borrowings?" he said.

As UNIAN reported earlier, Ukraine's national currency in September 2019 strengthened by over 4% against the U.S. dollar, and by over 12% from the beginning of the year. In late September, the hryvnia once again updated its four-year high historical maximum at UAH 24.08 per U.S. dollar against UAH 28.08 year-over-year.