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Economy 2019-05-15T04:35:42+03:00
Ukrainian news
Cabinet Endorses State Debt Management Strategy

Cabinet Endorses State Debt Management Strategy

The Cabinet of Ministers of Ukraine has endorsed the state debt management strategy.

The strategy was endorsed at the sitting of the Cabinet of Ministers on Wednesday, Ukrainian News Agency reports.

While presenting the strategy acting Finance Minister Oksana Markarova said additional borrowings can boost the economic growth of the country.

“The state debt has decreased to a more sound level of 60% of GDP. 49% of GDP is the average level of state debt in emerging countries. Leading countries have state debt of 40% of GDP,” she said.

According to her, 26% of the state debt accounts for borrowings from international partners and the borrowings are long-term ones.

She added that the foreign currency part of the state debt is big and that causes certain problems in managing the state debt.

The foreign state debt is 6 years on average and it should be extended in time.

‘Our goal to have the state debt of 52% of GDP by the end of 2019 and 49% of GDP by the end of 2020,” she said.

According to the text of the state debt management strategy, the Finance Ministry considers unlikely in the mid-term period payments in GDP warrants issued within the restructure of the state debt in 2015.

According to the strategy, the Ministry does not rule out repurchase of several issues of Eurobonds.

According to Prime Minister of Ukraine Volodymyr Groysman, UAH 130 billion is used annually to service the state debt.

As Ukrainian News Agency earlier reported, the aggregate state (direct) and state-guaranteed debt of Ukraine in June increased by 0.04% or USD 0.03 billion to USD 76.29 billion (as at June 30) month over month.

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