Ukraine's national debt increased by 1.5 times in the past year
Serhii Marchenko, Minister of Finance of Ukraine (Photo:NV)
Ukraine's public and publicly guaranteed debt increased by $13.4 billion to 78.5% of GDP at of the end of 2022 compared to 48.9% of GDP by the end of 2021, the Ministryof Finance tweeted on April 19.
"In the year 2022, Russian full scale invasion led Ukraine’s nominal GDP to drop to $161 billion and increased Ukraine’s state debt to GDP ratio to 71.6% from 43.3% in 2021," the message reads.
The increase in public debt was due to a 50.4% increase in debt received on preferential terms, from $29.1 billion in 2021 to $43.9 billion in 2022.
According to the IMF's Extended Fund Facility (EFF) program, Ukraine's public debt could reach 81.7% of GDP in 2022, 98.3% of GDP in 2023, and it could peak at 105% of GDP in 2024, after which it will begin to gradually decline.
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