16:17 31.07.2020

NBU worsens expectations regarding public debt growth to 62% of GDP in 2020

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NBU worsens expectations regarding public debt growth to 62% of GDP in 2020

The National Bank of Ukraine (NBU) worsened expectations of Ukraine's public debt growth in 2020 to 62% of GDP in its July inflation report, although in its April report this figure was expected at 60% of GDP.

"With the budget deficit widening, nominal GDP falling, and the hryvnia weakening from the levels seen at the end of last year, public and publicly guaranteed debt will grow to 62% of GDP in 2020," the central bank said in the report posted on its website.

Going forward, this indicator will decline by 2–3 pp annually, driven by economic growth and prudent fiscal policy, the NBU said.

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