Ukraine's updated budget draft lays debt to GDP ratio at 45% by end of 2020

The volume of Ukraine's public debt at the end of 2020 will amount to UAH 2.045 trillion in hryvnia equivalent, or 45.3% of forecast GDP, the Ministry of Finance reported with reference to the draft 2020 budget, finalized for the second reading.

The ministry notes that payments on public debt for 2020 are projected at UAH 282.1 billion (US$11.4 billion), including UAH 120.3 billion ($4.86 billion) on external debt.

Another UAH 141.5 billion ($5.72 billion) is laid for servicing the public debt in 2020.

As UNIAN reported earlier, the Cabinet of Ministers late on Sunday, Nov 3, approved a draft 2020 state budget of Ukraine for its second reading in the Verkhovna Rada, based on an updated forecast for next year with GDP growth of 3.7% with an average hryvnia exchange rate of UAH 27 to the dollar.

Read alsoPM Honcharuk presents finalized budget with updated figures in parliament

Compared with the previous project, budget spending increased by UAH 15 billion and revenues – by UAH 13 billion.

The deficit, as before, will amount to UAH 95 billion, while decreasing in relation to GDP to 2%.

The volume of state and state-guaranteed debt of Ukraine at the end of September amounted to $82.95 billion in dollar terms, and UAH 1.998 trillion in hryvnias.

According to the forecasts of the National Bank of Ukraine, public debt at the end of 2019 will stay below 55% of GDP.