15:22 28.01.2020

Ukraine's state debt down from 60.9% to 50% of GDP in 2019 – Finance ministry

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Ukraine's state debt down from 60.9% to 50% of GDP in 2019 – Finance ministry

The ratio of the state and state-guaranteed debt of Ukraine to the forecast GDP at the end of 2019 is about 50%, and the public debt is 44% compared to 60.9% and 52.3% at the end of 2018 respectively, the Ministry of Finance has said.

According to its data, in absolute terms the total national debt of Ukraine in hryvnia equivalent over the past year decreased by 7.8%, or by UAH 170.2 billion, to UAH 1.998 trillion.

At the same time, in dollar terms it grew by 7.7%, or $6.05 billion, to $84.4 billion.

"The fluctuations are due, in particular, to the strengthening of the national currency: as of December 31, 2018 the exchange rate was UAH 27.6882/$1, and on December 31, 2019 it stood at UAH 23.6862 per $1," the Ministry of Finance explained.

According to the agency, over the past year external debt declined in U.S. dollar terms too: from $50.45 billion to $48.94 billion, and its share fell from 64.4% to 58%.

According to the State Treasury, last year state internal borrowings amounted to UAH 345.91 billion with repayment of domestic debt for UAH 261.41 billion, foreign borrowing stood at UAH 79.79 billion with repayment of UAH 83.8 billion. Additionally, UAH 119.25 billion was paid from the budget for servicing public debt.

According to the Ministry of Finance, the share of obligations in dollars in the general structure of the state debt of Ukraine last year decreased from 44% to 38.9%, in SDR (special drawing rights) from 16.6% to 13.4%, while in hryvnias it increased from 29.1% to 36.7%, in euros from 9.2% to 10.2%.

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