The Ministry of Finance noted a positive nuance against the background of the growth of Ukraine’s public debt
news.online.ua
Thu, 31 Oct 2024 14:10:05 +0200
What is known about the improvement in the situation with the growth of public debt in UkraineIt is noted that the amount of external debt is 112.1 billion, or 72 of the total public debt.During the third quarter, the total volume of government and guaranteed government debt increased by 3.5 billion UAH 241 billion.
At the same time, the department noted that Ukraines public debt has fallen in price and become more longterm.From the beginning of 2024 to September 30, its weighted average cost decreased by 21.8 from 6.24 to 4.88 percent.
The average maturity of public debt is more than 11 years, representatives of the Ministry of Finance emphasize.More than half of the debt 58 consists of concessional loans from international financial institutions and foreign governments, making the debt portfolio longer term and cheaper to service.What is known about the increase in spending in Ukraine against the backdrop of the criminal war unleashed by RussiaHead of State Vladimir Zelensky signed a law increasing budget spending for military needs by 500 billion hryvnia against the backdrop of the war of aggression that Russia continues against Ukraine.The official decision of the Ukrainian leader became known by the status of the law on the Verkhovna Rada website.As mentioned earlier, the Ukrainian parliament voted to increase the budget for military needs on September 18.The head of the Councils Budget Committee, Roksolana Podlasa, recently explained what the sources of the additional UAH 500 billion for defense would beUAH 115.4 billion reduction in costs for servicing and repaying public debtUAH 216 billion additional placement of domestic government debt bonds OVDPUAH 100 billion exceeding the tax collection planUAH 30 billion tax revenues from tax increasesUAH 12.7 billion will come from an increase in excise tax rates on tobacco and fuel.
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