Ukraine's public debt reaches 87.9% of expected GDP in 2024 - Ministry of Finance 6 February 2025
Kyiv • UNN
Ukraine's state and guaranteed debt reached $166.1 billion. The weighted average cost of debt decreased from 7.79% to 5.09%, and the maturity increased from 6.27 to 12.26 years.
The state and guaranteed debt of Ukraine has reached $166.1 billion. At the same time, Ukraine's public debt reaches 87.9% of the expected GDP in 2024. This is reported by the Ministry of Finance, writes UNN.
Details
The state and state-guaranteed debt of Ukraine as of December 31, 2024 amounted to UAH 6.98 trillion, which is equivalent to $166.1 billion. In particular, the state and state-guaranteed external debt reached UAH 5.05 trillion (72.3% of the total debt) or $120.1 billion, while the domestic debt - UAH 1.93 trillion (27.7%) or $46.0 billion.
According to preliminary calculations, Ukraine's public debt to expected GDP in 2024 is 87.9%
Over the year, the amount of Ukraine's state and guaranteed debt increased by UAH 1.46 trillion ($20.7 billion), as indicated, "mainly due to an increase in long-term concessional financing from international partners".
The largest source of budget financing in 2024 was EU support: the debt on preferential loans from the European Union increased by UAH 600.5 billion ($11.1 billion), and the payments for servicing this debt will be compensated by the EU countries.
There is a tendency to increase the maturity of public debt and reduce its cost. Thus, since 2022, the weighted average cost of debt has decreased by 1.5 times (from 7.79% to 5.09%), and the maturity has doubled - from 6.27 to 12.26 years.
Regarding the debt structure: 58% is accounted for by concessional loans from international financial organizations and governments of foreign countries, 28% - by domestic market securities, 12% - by external bonds, and 2% - by loans from commercial banks and financial institutions.
In 2024, the Ministry of Finance held 201 auctions for the placement of government bonds, raising UAH 640 billion to cover the budget deficit. The refinancing rate of market government bonds as of December 31, 2024 was 167%, including 200% for hryvnia bonds, 115% in US dollars, and 83% in euros.
