The publication estimates Ukraine's national debt at nearly 7 trillion UAH.
Forbes Ukraine notes that this refers to the total national debt, which includes both Ukraine's direct liabilities (96%) and debts guaranteed by the state (4%).
According to the analysis, in 2021, Ukraine's national debt amounted to 2.67 trillion UAH, or 49% of GDP; however, following Russia's full-scale invasion, Ukraine increased borrowing to finance its "wartime budget."
In 2023, Ukraine's national debt reached 5.5 trillion UAH, or 84% of GDP, the publication reports.
"Another significant factor contributing to the growth of the national debt is the weakening of the hryvnia against the major currencies of the world, which increases the hryvnia-denominated scale of debts in foreign currency," analysts believe.