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The Ministry of Finance assessed the impact of the devaluation of the Hryvnia on debts

Photo: NBU Press Center

In July, the Ministry of Finance recalculated state debts due to the National Bank’s decision to devalue the hryvnia.

Ukraine’s state debt has significantly decreased in dollars and increased in hryvnia after the decision of the National Bank to lower the value of the national currency by 25%. The said data was published on the website of the Ministry of Finance on Tuesday, August 30.

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According to the agency, in July public debt decreased in dollar terms by 8.2% to $96.79 billion, while in Hryvnia it increased by 14.8% to UAH 3.539 trillion.

Since the beginning of 2022, the total public debt of Ukraine has decreased in dollar terms by 1.2%, or by $1.17 billion, while in hryvnia equivalent it has grown by 32.5%, or by UAH 867.2 billion.

The total external public debt of Ukraine during the seven months of this year increased by 5.8%, or by $3.32 billion, to $60.53 billion, while the total domestic debt increased by 19.3%, or by UAH 214.4 billion , in UAH 1.326 trillion

The agency also clarified that 68.14% of the government’s debt has a fixed interest rate, while 14.5% is pegged to the IMF rate, 11.57% to Libor. The rate of another 4.1% of the public debt is tied to the consumer price index, and 1.19% to the NBU discount rate.

Recall that since the beginning of the war, the NBU has fixed the exchange rate of the hryvnia at about 30 per dollar. But on July 21, the rate was reduced by 25% – to 36.5 hryvnia.

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Source: korrespondent

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