Government net lending/borrowing in Ukraine

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -18.4% 2027: -17.7% 2028: -7.4% 2029: -2.9% 2030: -2.0% 2031: -1.3%

5.1 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	5.1
Jan 1998	-2.8
Jan 1997	-5.6
Jan 1996	-3.2
Jan 1995	-4.9

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

Ukraine's government deficit measures the shortfall in the general government accounts when spending exceeds revenue over the year; a surplus arises when revenue exceeds spending. It is reported as a percentage of GDP.

How it's calculated

Calculated as the gap between public sector revenue and expenditure, from Ministry of Finance and Treasury accounts, relative to nominal GDP. Since the Russian invasion the balance is heavily shaped by defence spending and by external grants and loans.

Market implications

The deficit reflects Ukraine's vast wartime financing needs, met largely through international aid and the IMF programme. Its size bears on debt sustainability, the hryvnia exchange rate and the country's macro-financial stability.

Limitations

It is a low-frequency figure and highly prone to revision in the war context. The balance hinges on the pace of external support, so the headline reading tells little without the breakdown of grants, loans and military spending.