How big is the national debt, and how much do Ukrainians owe?

According to the Ministry of Finance data, the state’s and state-guaranteed debt as of April 1, 2024, amounts to ₴5.9T ($149B). Since 2020, this amount has increased significantly, mostly due to the full-scale war. Calculating the personal debt amount as of last year for each Ukrainian, it amounts to ₴162,300 ($4,099) per person.

Currently, Ukraine’s external debt is ₴3.99T (67.43% of the total). Of this, 18.8% of the debt is to the EU, 11.6% to the IMF, 7.8% to the World Bank, 5.7% to governments of several foreign countries, 2.3% to the EIB, 0.2% to the EBRD.

According to last year’s statistics, the cost of servicing the national debt is 7.3% of GDP, a very high level compared with economies of similar size. For example, in countries with similar economies that are not involved in a military conflict, the average cost of servicing the national debt is 3.6%.

This is a huge burden on Ukraine’s economy. Following the war, Ukrainians will need to spend funds allocated for reconstruction on debt repayment and servicing.