Finance ministry reports on debt repayment stats

Ukraine in 2020 spent UAH 119.7 billion from the state budget on debt servicing, which is 10.9% of the entire budget revenues.

That's according to a report on 2020 budget implementation, released on the website of the Ministry of Finance.

It is noted that, in general, as of the end of 2020, thanks to the government's balanced and consistent policy, despite the quarantine set up to curb COVID-19, it was possible to achieve budgetary targets.

Read alsoUkraine's int'l reserves down 1%, to $28.5 bln in Feb – NBUThe state budget deficit was kept at the level of 5.3% of GDP, while the target capped it at 7.5% of GDP; revenues were overfulfilled (UAH 1,076 billion was received against the target of UAH 1,022 billion); finance the defense and security sector spending stood at 6.1% of GDP; while the growth of the minimum wage, living wage, and other types of social payments and benefits was ensured.

Background

As per the Ministry of Finance, Ukraine will have to pay UAH 585.13 billion on public debt in 2021. Peak payment periods in 2021 are projected for the second and third quarters.

On March 19, 2021, the Ministry of Finance's press service, with reference to the report on the implementation of the 2020 state budget, reported that the government in 2020 had managed to achieve budgetary targets.