Ukraine's public debt surges, says MP

Danylo Hetmantsev, head of the Ukrainian parliament’s Tax Committee, has said that the country's public debt exceeded $107.46 billion by late November.

The public debt-to-GDP ratio equalled 83.1 per cent in the reporting month, while at the end of 2021, it was 48.9 per cent, Gazeta.Ru reports, quoting Hetmantsev’s Telegram channel.

He said the public debt increased by $4.34 billion in November amid external borrowing to finance the budget deficit.

According to him, two-thirds of the increase in public debt over the past month is due to favourable long-term loans from the EU, "mainly 2.5 billion euros of macro-financial assistance".

"Over 11 months, the national debt in foreign currency equivalent increased by 9.7 per cent or $9.5 billion. According to the IMF [International Monetary Fund], the ratio of public debt to GDP will be 89.4 per cent by the end of this year and will remain approximately at this level next year [89.9 per cent of GDP]," the MP explained.