Forbes Ukraine reported that the country's national debt by the end of 2024 had reached 7 trillion hryvnia (about 165.1 billion USD), equivalent to 92% of the Gross Domestic Product (GDP).
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| Ukraine's public debt is almost equal to GDP. (Source: Topwar) |
The above amount is the total public debt, including debts guaranteed by the state.
Ukrainian News reported in late December 2024 that the country's public debt increased by 2.8% to a record $159.74 billion in November 2024, citing data from the Ukrainian Ministry of Finance .
On October 23, the International Monetary Fund (IMF) released a report predicting that Kiev's public debt will increase sharply, reaching 95.6% of GDP in 2024 and more than 106% of GDP in 2025.
Ukraine's GDP is expected to grow by around 4% in 2024, thanks to early harvests and stable exports via the sea corridor, said Yuliia Svyrydenko, Deputy Prime Minister and Minister of Economy .
However, inflation has increased to 11%. Power shortages due to the conflict have also affected economic activity, but businesses have found ways to adapt by directly importing electricity to maintain production.
2025 is expected to be a crucial year for the country in conflict with Russia.
People are adapting to the pressures of the conflict and businesses are looking for opportunities to develop in difficult circumstances, said Gennadiy Chizikov, chairman of the Ukrainian Chamber of Commerce and Industry.
"The need for external connections and cooperation within the business community will increase in the coming time. This shows a positive trend in building a mutual support network between entrepreneurs and the business community," said Mr. Gennadiy Chizikov.
Source: https://baoquocte.vn/no-cong-cua-ukraine-bang-92-gdp-nguoi-dan-dang-thich-nghi-voi-xung-dot-300335.html
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