Photo from UNIAN
Ukrainian Prime Minister Volodymyr Groysman says that Ukraine spends over UAH 100 billion, or US$3.85 billion, which is 4% of GDP, every year on servicing of its foreign debt.
"Every year we spend 4% of GDP on servicing of foreign debts, which is over UAH 100 billion," he said at a forum on decentralization in Ternopil region.
In his words, about UAH 5.5 billion, or $212 million, is allocated from the national budget for covering the Pension Fund's deficit, and 5% of GDP is spent on security and defense.
Read alsoPM Groysman says Ukraine loses over 16% of GDP due to Russian aggression"We need reforms like air. Everyone who says everything needs to be paid off without them to all and it should be done immediately, I agree too. But those who say this – they are also aware that there is no money in the budget, and they do not know how to do it either," he said.
As UNIAN reported with reference to the Ministry of Finance, Ukraine's state debt accounts for 66.8% of GDP, and the share of forex loans is 70%. Ukraine's state and state-guaranteed debt in January-April 2017 increased in dollar terms by 4.7%, or $3.33 billion, to $74.31 billion as of April 30.