14:20 28.01.2015

Ukraine's total state debt 4.5% down in 2014, says Finance Ministry

1 min read
Ukraine's total state debt 4.5% down in 2014, says Finance Ministry

Ukraine's total direct and guaranteed state debt in 2014 fell by 4.5%, to $69.795 billion, reads a posting on the website of the Finance Ministry of Ukraine.

According to the report, in December total state debt grew by 0.7%, from $69.335 billion.

The ministry said that Ukraine's total domestic state debt fell by 12.8% in 2014 (it grew in December by 4.8%), to $31.003 billion, while total foreign state debt was up by 3.3% (down by 2.4% in December), to $38.792 billion.

As reported, in 2013, Ukraine's state debt in the U.S. dollar equivalent grew by 13% or $8.434 billion and from 37.4% of GDP to 40.9% of GDP.

The government assessed the decline of real GDP in Ukraine in 2014 at 7%, although due to the acceleration of inflation to 25.3%, nominal GDP will expand to UAH 1.525 billion.

The International Monetary Fund (IMF) in the revised Stand-By Arrangement in late August 2014 forecasted that Ukraine's gross state debt would increase in 2014 from 40.9% of GDP to 67.6% of GDP due to devaluation of the national currency and the necessity of additionally support Naftogaz Ukrainy and banks.

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