10:25 31.01.2019

Ukraine's state debt falls to 62.7% of GDP in 2018 – Finance ministry

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Ukraine's state debt falls to 62.7% of GDP in 2018 – Finance ministry

The state guaranteed debt of Ukraine fell from 71.8% to 62.7% of GDP in 2018, according to tentative data posted by the Finance Ministry of Ukraine on its Facebook page.

The Finance Ministry recalled that in absolute figures the aggregate state debt grew by UAH 26.94 billion in hryvnias, to UAH 2.169 trillion and by $2 billion in U.S. dollars, to $78.3 billion.

The ministry said that direct state debt by the end of 2018 was 85.8% of the state guaranteed debt.

As reported, at the end of August 2018, the government of Ukraine reviewed the medium-term strategy of public debt management by setting more ambitious goals to reduce the direct state debt and GDP ratio, in particular, to 60% of GDP by the end of 2018, instead of the previously planned 62% of GDP. The figure should be cut to 52% by the end of 2019 and to 49% by 2020.

Ukraine's state debt for the period of 2017 increased by 11.1%, to UAH 1.834 trillion, or $65.3 billion, foreign debt alone rose to $38.5 billion. However, the ratio of the debt to the country's GDP decreased from 69.2% to 61.5%. If government-guaranteed debt is included, the ratio fell from 80.9% of GDP to 71.8% of GDP.

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