Ukraine state debt rises 0.6% in November

Ukraine’s state and state-guaranteed debt rose 0.6%
m/m to USD 74.8 bln in November owing to higher foreign debt, the Finance
Ministry reported on Dec. 26. State foreign debt rose 3.4% m/m to USD 38.9 bln,
while domestic debt declined 2.1% m/m to USD 26.1 bln. State-guaranteed debt
declined 2.5% m/m to USD 9.8 bln.

In UAH terms, overall state debt increased 1.4% m/m as
state foreign debt rose 4.2% m/m and domestic debt declined 1.3% m/m,
respectively. In November, state debt amounted to 71.2% of Ukraine’s 2017 GDP.

Evgeniya Akhtyrko: The November
debt statistics reflected the government borrowing USD 2 bln on Oct. 25
with its international Eurobond placement, as well as its redemption of discount bonds of USD 725 mln
par value issued in August.

State domestic debt declined, as the local bond
redemption exceeded the amount of newly attracted local debt during the month.

For 2018, we project that state debt will rise to
USD 78.2 bln (67.6% of 2018 GDP), assuming loans received this month from the IMF, World Bank and the EU.