MOSCOW, December 27. /TASS/. Ukraine's total state debt (direct and guaranteed) in November increased by 2.8% or $4.37 bln in comparison with October to a record $159.74 bln, the Ukrainian news agency reported with reference to the country's Finance Ministry.

In October, the national debt was $155.37 bln, which was also a record. The total amount of direct state debt as of the reporting date was 6,365.47 bln hryvnia ($153.03 bln) compared to 6,134.58 bln hryvnia ($148.61 bln) in the previous month. At the same time, the direct foreign debt increased from $105.9 bln to $109.57 bln over the month.

Direct domestic debt in hryvnia terms increased from 1,762.97 bln hryvnia to 1,807.99 bln hryvnia (from $42.71 bln to $43.47 bln). State-guaranteed debt at the end of the month amounted to 279.21 bln hryvnia ($6.71 bln).

Ukraine's public debt in 2023 was $145.32 bln, which was also a record. Then it increased by 30.4%, or $ 33.87 bln.

The Ukrainian authorities have repeatedly admitted that raising taxes and excise duties is inevitable and that there is no alternative to this measure. Kiev says that the country can only cover military budget items on its own, while everything else is financed with the help of allies. The government has submitted a draft budget for 2025 to the Rada, which includes a deficit of 1.6 trillion hryvnia ($38.68 bln) and plans to lower the national currency rate to 45 hryvnia per dollar. RBC-Ukraine agency reported that based on an analysis of the document, the country's public debt by the end of next year will amount to 101.8% of GDP, and there are plans to attract $34.8 bln in foreign loans. At the same time, Western allies insistently recommend that Kiev finds more sources to increase its ability to self-finance.