Despite the large increase in public debt, debt risks remain manageable, assured Daniil Getmantsev.
According to the November results, Ukraine’s state debt increased by $4.34 billion to $107.46 billion. This is confirmed by the data of the Ministry of Finance on Tuesday, December 27.
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In hryvnia equivalent, the amount of state-guaranteed debt reached UAH 3,929.73 billion, which increased by UAH 158.70 billion in the month.
Since the beginning of the year, the debt has grown by 47.1% in hryvnia (by UAH 1,257.67 billion) and by 9.7% ($9.5 billion) in dollars.
Daniil Getmantsev, head of the Verkhovna Rada committee on tax and financial policy, noted that the main reason for the increase in public debt in November was external borrowing to finance the budget deficit. In particular, 2/3 of the increase in public debt in the last reporting month fell on preferential long-term EU loans (mainly 2.5 billion euros of macro-financial assistance).
Hetmantsev also mentioned the following calculations: at the end of November, the ratio of public debt to GDP was 83.1% (if we take the latest government forecast of GDP for 2022 – UAH 4,728 billion as a basis of comparison). For comparison, at the end of 2021, this ratio will be 48.9% of GDP.
“Despite the large increase in public debt, debt risks remain manageable,” the citizen representative assured.
Recall that in October, the state debt of Ukraine increased by $5.03 billion, and its total value exceeded $100 billion.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.