Ukraine’s public debt rose to 103.1 billion dollars by the end of October, marking a five‑billion‑dollar uptick for the month. This rise was shared on the Telegram channel of Daniil Getmantsev, the head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, who summarized the latest borrowing activity and its impact on the national balance sheet.
The primary driver behind October’s debt increase, according to Getmantsev, was external borrowing used to cover the budget deficit. He explained that Kyiv benefited from a mix of international financial support during the month, including 2 billion euros in macro-financial assistance from the European Union and 550 million euros from the European Investment Bank. In addition, the country drew on loans from major international institutions, with 1.3 billion dollars from the International Monetary Fund and 0.5 billion dollars from the World Bank. These inflows helped cushion the financing needs created by ongoing deficits and supported the government’s broader fiscal program.
On a broader scale, the data presented by Getmantsev showed that the public debt had risen by about 5.3 percent, equivalent to roughly 5.2 billion dollars, over the first ten months of the year. The debt-to-GDP ratio stood at roughly 80 percent during that period, underscoring the sizable borrowing undertaken to maintain essential state functions and investment plans in a challenging macroeconomic environment. The figures reflect not only the growth in debt stock but also the country’s ongoing efforts to stabilize public finances amid fiscal pressures and security expenditures.
Valery Patskan, who leads the Accounting Chamber of Ukraine, also weighed in on the trajectory of public debt, noting that the overall level could expand if current financing needs persist or if the revenue situation shifts. Patskan stressed that a key priority for the government remains the funding of national security and defense, highlighting that a substantial portion of revenues has already been allocated to this sector. In recent budgeting cycles, a large share of national resources has been directed toward defense outlays, which continues to shape the composition of the budget and the profile of fiscal risk. The conversation around debt therefore centers on balancing the imperative of security with the discipline required to sustain debt sustainability and macroeconomic stability.
Experts and policymakers alike emphasize the importance of continued international support and prudent debt management as the country navigates an extended period of reconstruction, reform, and resilience-building. The October borrowing cycle illustrates how external capital markets and development institutions can play a pivotal role in stabilizing government finances during times of volatility, while underscoring the need for transparent stewardship of borrowed funds and clear, credible plans for repayment and growth. In this context, the public debt path remains a central indicator watched by investors, analysts, and citizens as Kyiv maps its path toward fiscal resilience and sustained economic recovery.