Ukraine’s state and state-guaranteed debt to GDP ratio is estimated at 50%

In 2019 total Ukraine’s state debt and state-guaranteed debt in the national currency decreased by 7.84% (UAH 170.2 billion) and as of the end of December accounted to UAH 1998.3 billion. At the same time the debt has grown in foreign currency by 7.71% and reached USD 84.4 billion by the end of the year. It is explained, among other factors, by the strengthening of the national currency, which changed from 27.6882 hryvnyas per dollar as of 31st of December 2018 to 23.6862 hryvnyas per dollar as of 31st of December 2019.

Ukraine’s state and state-guaranteed debt to GDP ratio by the end of 2019   is estimated at 50%, while state debt to GDP at 44%. Both numbers are a significant improvement in comparison to, respectively, 60.9% and 52.3% as of the end of 2018.

Ukraine’s expenditures on debt redemption in 2019 were UAH 345.2 billion and UAH 119.2 billion were spent on the debt service. In May 2019 the Ministry of Finance redeemed the government Eurobonds guaranteed by the USA. The issue of the USD 1 billion government bond took place in 2014 at the interest rate of 1.844% per annum. Also the redemption of USD 661 million of Eurobonds took place in September.

Detailed information on Ukraine’s state debt and state-guaranteed debt is available on the official website of the Ministry of Finance at the following link.