REUTERS
Ukraine’s public and publicly guaranteed debt is expected to rise to 95% of GDP in 2015, according to the Inflation Report of the National Bank of Ukraine (NBU) for June, posted on the regulator's website.
The NBU said that the growth of the national debt largely occurred in the first quarter, which was primarily related to hryvnia depreciation impact given the high share of obligations denominated in foreign currency.
External public and publicly guaranteed debt is expected to amount to 62% of GDP on an annual basis, according to the NBU estimates.
The regulator also notes that in addition to the fiscal deficit, public debt growth was due to oil and gas giant Naftogaz's financing needs (over 3% of GDP), as well as the financing needs of the Individuals' Deposit Guarantee Fund.