REUTERS
Ukraine's public and publicly guaranteed debt is forecast to reach 91.1% of the country's GDP by the end of 2015 (prior to debt transactions performance), according to the Ukrainian government estimates.
As of December 31, 2014, the ratio of public and publicly guaranteed debt to GDP was 70.3%, with debt levels exceeding the limit of 60% of GDP, as provided for under Article 18 of the Budget Code of Ukraine, according to the report.
As UNIAN reported earlier, in January-May Ukraine's public and publicly guaranteed debt reduced by $2.151 billion, or 3.08%, to $67.661 billion.
In 2014, public and publicly guaranteed debt denominated in foreign currency declined by 4.53% amounting to $69.794 billion, and in the hryvnia equivalent increased by 1.9 times to UAH 1.101 trillion.
The National Bank of Ukraine forecasts total public and publicly guaranteed debt of Ukraine in the current year will reach 95% of GDP.
According to the state budget of Ukraine for 2015, revenues are projected at UAH 502.260 billion, expenses – at UAH 566.870 billion, with the maximum amount of the deficit set at UAH 75.820 billion, or 4.1% of GDP, and the debt ceiling set at UAH 1.394 trillion.