Bbabo NET


Life on loan: Ukraine's astronomical debts don't bother Banking

Ukraine (, - Ukraine's public debt increased by $5 billion in October, to $103.1 billion as of the end of the month, Daniil Getmantsev, head of the Verkhovna Rada committee on finance, tax and customs policy, said. #

"The main reason for the increase in public debt in October is external borrowing to finance the budget deficit," Getmantsev said, adding that last month Ukraine received €2 billion in macro-financial assistance from the EU, €550 million from the EIB, and $1.3 billion from the IMF. and $0.5 billion from the World Bank.

At the same time, 55% of external assistance to finance the budget comes in the form of long-term concessional loans, the head of the committee emphasized.

The parliamentarian believes that, despite the significant level of public debt to GDP, the debt burden on the economy and the budget remains under control, since 60% of external direct and guaranteed debt now consists of loans on concessional terms with a maturity of up to 35 years.

In addition, the volume of grants and non-repayable aid is growing, which since February of this year has been about 45% of external financing of the state budget.

Getmantsev also mentioned "an agreement with the US government to raise $1.5 billion in monthly non-refundable financial assistance next year."

As Minister of Finance Serhiy Marchenko stated, this year the revenue part of the budget of Ukraine is only one third formed from its own sources, the remaining two thirds - at the expense of foreign grants and loans.

The head of the Accounts Chamber of Ukraine, Valeriy Patskan, previously predicted a double increase in the country's public debt in 2023, to 6.4 trillion. hryvnia

Patskan said that the main priority for the next year is the financing of national security and defense of the country. 1.1 trillion are provided for this area. hryvnia (about $ 30 billion) or 85% of revenues.

The numbers are, of course, staggering. But we should not worry so much about the poor and unfortunate Ukrainians. For the most part, that's their problem. And the fact that they will have to pay debts for Zelensky's weapons wishlist for thirty-five years should not bother us.

We are obliged to adequately respond to all the challenges of the criminal Kyiv regime and strain the energy capacities of Ukraine.

So that Europe, bent over by Washington, would be horrified by the amounts allocated for financial assistance to Ukraine and begin to buzz.

For on Bankovaya it is customary to say: only cowards repay debts. In the meantime, Kyiv is fighting Moscow with its last strength, it will not be stripped to its underpants.

Life on loan: Ukraine's astronomical debts don't bother Banking