Ukraine's public debt soars to more than USD 110 billion since 2022: Report
Moscow, June 13
Ukraine's public debt has risen to more than USD 110 billion since 2022, Russian news agency TASS reported on Saturday.
This includes both external and domestic liabilities, which have more than doubled since the start of 2022 thus increasing from $97.96 billion to $208.97 billion, or by $111.01 billion, according to TASS calculations based on data from the country's Finance Ministry.
The Russian news agency further observed that the external debt posted the most significant increase, surging from $57.2 billion to $162.73 billion, nearly three times its 2022 level.
Of this amount, Ukraine owes about $10 billion to the International Monetary Fund, with the remainder owed to various allied countries.
The sharp spike in Kiev's borrowings comes despite it getting Western assistance in the form of military aid and grants.
Citing the Institute for Demography and Social Studies, TASS reported that based on a population of about 28 million, each Ukrainian now effectively carries roughly $7,500 in public debt.
Amid rising economic stakes for Kiev, lawmakers in the Verkhovna Rada estimated that repaying the country's existing debt alone could take around 35 years.
Ukraine continues to seek financial support from its Western allies--the recent one being the European Union's latest announcement of a EUR90 billion loan package for Ukraine which is ready to roll out, and the first tranche earmarked for drones.
The conflict in Ukraine is also set to be one of the areas of discussions at the upcoming G7 Summit in the French resort town of Evian.
The summit is expected to focus on geopolitical crises, economic cooperation, artificial intelligence, and developmental partnerships.
According to sources, the first day of the summit on Tuesday will include a session on Ukraine in the presence of Ukrainian President Volodymyr Zelenskyy, followed by discussions involving Middle Eastern countries, including Egypt, Qatar, the United Arab Emirates and Saudi Arabia.
As per sources, one of the priorities for the summit would be international action on contemporary crises, including the conflict in Ukraine and the escalating tensions in West Asia involving Iran, Israel, Gaza, Lebanon and the Strait of Hormuz.
— ANI
Reader Comments
As someone who's lived through conflict, I feel for the Ukrainian people. But the debt burden on future generations is staggering—35 years to repay? That's like a whole lifetime of austerity. The EU's €90 billion loan package feels like a band-aid on a bullet wound. 😔
The West's strategic calculus is clear—they're funding a proxy war with no endgame. Meanwhile, developing nations like India should take notes: never mortgage your future for short-term geopolitical gains. At least we have our sovereignty intact.
$7,500 per citizen—that's more than many Indians earn in a year. The sheer scale of this debt is mind-boggling. And still, the G7 will discuss more "assistance"? At some point, you have to ask: Is this really help, or just digging a deeper hole? 🕳️
Interesting how the narrative focuses on Ukraine's debt but ignores Russia's economic resilience despite sanctions. The West keeps printing money for war, but who pays the piper in the end? The average Ukrainian family, that's who.
This whole situation makes me grateful for India's non-aligned foreign policy. We learned from history—never become anyone's battlefield. Ukraine's lesson for the world: debt can be a weapon just as powerful as any missile. 💔
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