12:38 24.03.2016

Spending on servicing Ukraine's state debt almost doubles in 2015

Spending on servicing Ukraine's state debt almost doubles in 2015

Spending on servicing Ukraine's state debt in 2015 increased by UAH 36.5 billion or 1.8 times compared to 2014, Ukrainian Finance Minister Natalie Jaresko has said.

"Spending on debt servicing was a large share of expenses in 2015 due to the careless fiscal policy of the previous years. We had to boost expenses on debt servicing by UAH 36.5 billion, or 1.8 times, compared to 2014 amid the steep hryvnia devaluation and the large share of currency-pegged debt," she said at a cabinet meeting on Wednesday.

She did not specify the sum of spending, adding that it amounted to 5% of GDP.

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