: Ukraine's state debt 1.8% down in dollars, 10.7% up in hryvnias in two months

18:44 Apr. 5, 2016

Ukraine's state debt 1.8% down in dollars, 10.7% up in hryvnias in two months

The face of Bohdan Khmelnytskyi sits on an uncut sheet of five hryvnia banknotes in this arranged photograph at the headquarters of the National Bank of Ukraine in Kiev, Ukraine, on Tuesday, March 22, 2016. (Vincent Mundy/Bloomberg via Getty Images)

Total sum of state and government-guaranteed debt as of the end of February was UAH 1.741 trillion

The total sum of Ukraine's state and government-guaranteed debt by the end of February 2016 was estimated at USD 64.35 billion, which was 1.8%, or USD 1.16 billion, down on the beginning of the year, according to the Ukrainian Finance Ministry.

At the same time, the total sum of state and government-guaranteed debt in the hryvnia equivalent as of the end of February was UAH 1.741 trillion, which was 10.7%, or UAH 168.76 billion, up on the beginning of January 2016.

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Chief economist from Dragon Capital Olena Bilan said further dynamics of state debt this year would depend in the first turn on disbursements from international donors and on forex rate fluctuations.

"Our current macroeconomic forecast is based on the fact that the International Monetary Fund would resume lending and related financing in the second quarter of 2016, and net borrowings are projected at USD 7.3 billion against USD 8.6 billion in 2015. We expect that the debt-to-GDP ratio will be 84% by the end of the year," she said.

The overall sum of state and government-guaranteed debt as of December 31, 2015, was USD 65.488 billion, which was 6.19%, or USD 4.324 billion down on January 1, 2015.

Ukraine's state and government-guaranteed debt in the hryvnia equivalent was UAH 1.572 trillion, which was 42.78%, or UAH 470.932 billion up on the start of last year.

Ukraine's Finance Ministry estimated that actual state debt was within the limits sealed in the national budget 2015, accounting for 79% of GDP.

Reporting by UNIAN.

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