Government gross debt in Ukraine

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 122.6% 2027: 137.1% 2028: 135.5% 2029: 131.9% 2030: 125.7% 2031: 119.6%

61.0 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	61.0
Jan 1998	48.1
Jan 1997	29.9

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Government gross debt measures the total stock of liabilities (securities, loans and deposits) owed by Ukraine's general government to its domestic and external creditors. It is published by the Ministry of Finance and the National Bank of Ukraine (NBU).

How it's calculated

It is compiled by adding direct government debt to state-guaranteed debt, consolidated across subsectors, and includes a sizeable share denominated in foreign currency. It is reported in absolute terms (hryvnia and US dollars) and as a percentage of GDP.

Market implications

In a war economy heavily reliant on external and multilateral funding (IMF, EU), debt is a critical variable for fiscal sustainability, the hryvnia exchange rate and market access. Its sharp increase reflects the financing needs of the conflict and shapes NBU policy.

Limitations

It is a low-frequency figure that is highly sensitive to the exchange rate, since much of it is in foreign currency: a weaker hryvnia raises the ratio without any new issuance. It is subject to revision and to the effects of restructurings and payment moratoria agreed with creditors.