The main reason for the increase in government debt in October was external borrowing to finance the budget deficit.
According to the October results, Ukraine’s state debt increased by $5.02 billion to $103.12 billion. This is confirmed by data from the Ministry of Finance on Tuesday, November 29.
In hryvnia equivalent, the amount of state-guaranteed debt reached UAH 3,770.95 billion, which increased by UAH 183.51 billion during the month.
As Daniil Getmantsev, head of the Verkhovna Rada committee on tax and financial policy, said, the main reason for the increase in public debt in October was external borrowing to finance the budget deficit. In October, Ukraine received 2 billion euros of macro-financial assistance from the EU, 550 million euros from the EIB, 1.3 billion dollars from the IMF, 0.5 billion dollars from the World Bank.
At the same time, Getmantsev noted that these loans are given on favorable terms and for a long time.
Last week it was reported that Ukraine signed an agreement for a $4.5 billion grant. The funds raised will be used to provide pension payments and state social assistance programs.
Also, the United States announced that it will begin releasing funds to Ukraine from a $4.5 billion grant in the “coming weeks.”
Ukraine signed an agreement on a €100 million loan from France
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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.