Ukraine's gross foreign debt grows to 92.7% of GDP in H1 - NBU

MOSCOW. Sept 20 (Interfax) - Ukraine's gross external debt grew by $8.8 billion in the second quarter of 2023 to $148.6 billion at the end of June, Ukrainian media reported, citing the National Bank of Ukraine (NBU).

The debt grew from 90.5% to 92.7% of GDP in the second quarter.

The gross external debt of the state sector rose by $8.4 billion to $84.5 billion, or 52.7% of GDP, while the private sector debt edged up by $0.4 billion to $64.1 billion, or 40% of GDP.

The state sector debt grew due to net borrowing on loans from international partners in the amount of $8.8 billion, including $3.6 billion from the International Monetary Fund, while government debt on securities shrank by $0.12 billion.

The foreign debt of Ukrainian banks fell by $0.08 billion to $1.8 billion or 1.1% of GDP, while the external debt of other sectors increased by $0.2 billion to $41.3 billion or 25.8% of GDP.

The debt of other sectors including intercompany debt grew by $0.52 billion to $62.3 billion or 38.9% of GDP. Intercompany debt as regards direct investment grew by $0.28 billion in the quarter to $21 billion or 13.1% of GDP.

Growth of private sector debt due to exchange rate changes totaled $0.4 billion, the NBU estimated.

The overdue debt of the real sector on unguaranteed loans (including from direct investors) grew by $0.13 billion in the second quarter to $25.4 billion or 15.8% of GDP at the end of June. Cyprus accounted for 58.1% of this amount. The share of the United Kingdom and the Netherlands grew by 1 and 3 percentage points, respectively, to 9.2% and 5.8%.