KIEV, December 6. /TASS/. Ukraine’s hryvnia-denominated debt has risen by 45% since February and is nearing 80% of its GDP, Yaroslav Zheleznyak, a member of the Ukrainian parliament, said on Tuesday.
As of November 1, the debt totaled $93.5 billion, he said on Telegram. In hryvnias, that means an increase of 45% since February. Domestic debt has risen by 23%, while foreign debt has jumped by 63%.
"In general, the volume of Ukraine’s government and government-guaranteed debt is approaching 80% of GDP," the lawmaker said.
Daniil Getmantsev, the head of the parliament’s committee on finances and tax and customs policy, earlier said the debt burden was expected to reach 90% of GDP by the end of the year and climb to 100% of GDP next year. According to the government’s latest GDP forecast, the GDP will total 4.73 trillion hryvnias ($128.59 billion) in 2022.
The parliament’s budgetary committee has said the country’s 2023 budget proposal raises the limit for government debt to 6.42 trillion hryvnias (more than $172.7 billion), or 102.3% of the projected GDP for next year, which is estimated to reach more than 6.27 trillion hryvnias (about $169 billion). Finance Minister Sergey Marchenko has said just one-third of Ukraine’s budget revenue comes from domestic sources, while the rest consists of foreign grants and loans.