The national debt of Ukraine continues to grow rapidly, reaching new heights and deepening economic dependence on external creditors. In July of this year, the amount of public debt increased by 2.1%, equivalent to $3.20 billion. At the end of the month, the amount of public debt reached $155.4 billion.
If we look at the situation since the beginning of the year, the growth is 6.9%, and since the beginning of the war - as much as 66.5% (or $62 billion).
External debt:
In July, the external debt increased by $2.9 billion, mainly due to loans from the IMF. The debt to external creditors is 68.7% of the total national debt, having more than doubled since the beginning of the war.
The largest creditors:
The European Union is the largest external creditor of Ukraine with a debt to it of $40 billion (more than 25% of the national debt). Since the beginning of the war, the debt to the EU has increased almost 8 times.
Holders of foreign bonds are in second place with a portfolio of $19.7 billion (13% of the national debt). However, according to this article, since the beginning of the war, the debt has been reduced by 14%.
The IMF took third place - $16.49 billion (10% of the national debt). Debt to the fund has increased 1.9 times since the beginning of the war.
World Bank. The debt to him is $14.7 billion (9% of the national debt), the growth is 2.4 times since the beginning of the war.
Canada is the largest national creditor of Ukraine, the debt to it is more than $5 billion (3% of the national debt).
Internal debt. The debt to bondholders of the domestic state loan is 26% of the total state debt. In July, this debt increased by $200 million, and since the beginning of the war - by 17% (up to $40.7 billion).
According to forecasts, in 2024 the ratio of public debt to GDP may reach 80%, which creates serious challenges for the country's further economic growth. How long will the economy be able to sustain such rates of borrowing?
