Public debt grows by 1.3% to over US$84 bln in Nov

In the hryvnia equivalent, the debt increased by UAH 30.4 billion.

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Ukraine's Finance Ministry says the country's public and government-guaranteed debt, estimated in the hryvnia, Ukraine's national currency, grew by 1.3% to UAH 2.398 trillion (US$84.6 billion at the forex rate as of Dec 28) in November 2020, while that in the U.S. dollar equivalent rose by 1.2% to US$84.24 billion.

"In November 2020, public and government-guaranteed debt in the hryvnia equivalent increased by UAH 30.4 billion [US$1.07 billion at the forex rate as of Dec 28], while growing by US$0.98 billion in the U.S. dollar equivalent," the ministry said on its website.

Read alsoAccounting Chamber estimates Ukrainians' costs of servicing state debtsAs of November 30, 2020, public foreign debt amounted to UAH 1.204 trillion, or US$42.47 billion (50.2% of the total sum).

Public domestic debt was UAH 905.10 billion, or US$31.92 billion (37.74% of the total sum).

Government-guaranteed debt

Ukraine's government-guaranteed debt stood at UAH 289.19 billion, or US$10.20 billion (12.06% of the total public and government-guaranteed debt), including: government-guaranteed foreign debt at UAH 259.93 billion, or US$9.17 billion (10.84%) and government-guaranteed domestic debt at UAH 29.26 billion, or US$1.03 billion (1.22% of the total sum).

Background

Ukraine's state and government-guaranteed debt in 2019 increased in dollar terms by US$6.05 billion, or 7.7%, to US$84.36 billion.

Public debt in the hryvnia equivalent shrank by UAH 170.17 billion (US$6 billion), or 7.8%, in the past year, to UAH 1.998 trillion (US$70.5 billion).

The debt-to-GDP ratio as of January 1, 2020, stood at 50%.

Since the beginning of 2020, Ukraine had spent UAH 357.4 billion (US$12.6 billion) as of December 23, 2020. Head of the Accounting Chamber Valeriy Patskan says every seventh hryvnia from Ukraine's national budget is spent on servicing state debts.

National budget 2021: Background

  • On December 15, 2020, the Verkhovna Rada, Ukraine's parliament, passed a draft law on the 2021 national budget.
  • On the same day, the parliament backed a resolution on the Verkhovna Rada's budget for 2021.
  • On December 21, Chairman of the Verkhovna Rada Dmytro Razumkov signed the bill on the national budget.
  • On December 25, 2020, Ukrainian President Volodymyr Zelensky enacted the bill into law.
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