External debt up 53.3% yoy in June

Ukraine’s gross external debt grew 53.3% yoy to USD 100.1 bln (60.1% of GDP) as of June 30, 2008, the National Bank of Ukraine reported yesterday. Corporate debt totaled USD 84.9 bln (+63.7% yoy), while public debt was USD 15.2 bln (+13.1% yoy). Corporations attracted USD 7.9 bln in debt in 2Q08, vs. USD 7.6 bln in 1Q08 and USD 8.9 bln in 4Q07. Andrii Parkhomenko: Growth in corporate debt remains quite rapid, though decelerating, which indicates that the global financial turmoil is hindering some Ukrainian companies’ ability to attract funds. We forecast total external debt to reach USD 115.0 bln (56.8% of GDP) by yearend.