Photo: bank.gov.ua
In 2020, the national debt grew to 60.8% of GDP
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The government intends to maintain a significant budget deficit in order to revive the economy and overcome the consequences of the pandemic.
The National Bank of Ukraine expects the country’s public and guaranteed debt to fall to 55.8% of GDP. And this despite the fact that in 2020 the national debt increased from 50.3% of GDP to 60.8% of GDP, according to website NBU.
The agency notes that in order to reduce the level of debt and keep it below 60% of GDP, it is necessary “to observe a balanced fiscal policy in the face of economic growth and low exchange rate volatility.”
According to the National Bank’s estimates, in January-February 2021, the debt decreased to 58.4% of GDP – this is UAH 2.55 trillion, that is, 36.5% in national currency and 63.5% in foreign currency.
To revive the economy and overcome the consequences of the pandemic in 2021, the Cabinet of Ministers, the NBU experts noted, intends to maintain a significant budget deficit – 4% of GDP, that is, UAH 200.2 billion.
“In the future, in the context of sustainable economic growth, government incentives will decrease, which will allow to gradually improve the debt position. Accordingly, in 2022-2023, the deficit is expected to decrease to 3% of GDP (UAH 165 billion in 2022 and UAH 181.9 billion in 2023),” – the message says.
As previously reported, Ukraine’s external debt grew by $ 4 billion… Over the past year, the country’s gross external debt increased from 78.6% to 81.2% of GDP and amounted to $ 125.7 billion.
Let’s add, Ukraine paid $ 335 million on “long” Eurobonds… We are talking about interest for the restructuring of public debt, carried out in 2015.
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