Ukraine's foreign debt up 1.1% to USD 26.3bn, domestic debt up 1.5% to UAH 240.8bn in September.

By bne IntelliNews October 25, 2013

In September, Ukraine's direct foreign debt increased by 1.1% to USD 26.286bn as of September 30 (against the USD 26.005bn as of August 31), the Finance Ministry has announced. In September, direct domestic debt increased by 1.5% from UAH 237.189bn to UAH 240.844bn.

In September, total direct public debt increased by 1.3% from UAH 445.05bn to UAH 450.952bn. Government-backed debt as of September 30 was UAH 101.048bn against UAH 101.286bn as of August 31. Total direct public-sector debt and government-backed debt as of September 30 made up UAH 552.001bn (UAH 546.336bn as of August 31).

Ukraine's gross foreign debt shrank by USD 700mn in H1 to USD 134.4bn, the National Bank of Ukraine (NBU) has announced. The debt decreased from 76.6% to 75.7% of GDP. The NBU said that the main factor of such dynamics was a decline in the foreign liabilities of monetary and credit regulation agencies and banks, while the debt of other sectors continued to grow.

We believe that the external debt will further decrease in H2/13 due to the government’s still outstanding large total debt payments. In addition, the government’s problems with attracting foreign borrowing will also contribute to contraction of external debt, which may lower it to 73.5-74% of GDP by the end of the year.

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