Ukraine’s public debt rose by $5 billion in October to $103.1 billion at the end of the month. This was announced on the Telegram channel by Daniil Getmantsev, chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy.
“The main reason for the increase in public debt in October is external borrowing to finance the budget deficit,” Hetmantsev said. Hetmantsev pointed out that Ukraine received 2 billion Euros of macro-financial aid from the EU and 550 million Euros from the EIB last month. $1.3 billion from the IMF and $0.5 billion from the World Bank.
According to the data he quoted, public debt has increased by 5.3 percent, or $5.2 billion, in the 10 months since the beginning of the year, and its ratio to the country’s GDP was approximately 79.7 percent.
Valery Patskan, Head of the Accounting Chamber of Ukraine estimated The country’s public debt will double by 2023 to reach UAH 6.4 trillion ($174 billion – socialbites.ca). He emphasized that the main priority in 2023 is the financing of national security and national defense. 1.1 trillion hryvnia (approximately 30 billion dollars) or 85% of the revenues were provided for this area.