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Economy 2020-09-25T04:02:25+03:00
Ukrainian news
Interest Payments on National Debt Nearly Reach Healthcare Expenses, – Lovochkin

Interest Payments on National Debt Nearly Reach Healthcare Expenses, – Lovochkin

Serhiy Lovochkin, Opposition Platform - For Life, Ukraine’s National Debt
Serhiy Lovochkin. Photo by lovochkin.org
Serhiy Lovochkin. Photo by lovochkin.org

Ukraine’s national debt continues increasing, having reached 2,355 bln hryvnia as of Aug. 1, an 18-percent growth since early 2020. According to MP Serhiy Lovochkin, the government’s current financial policy leaves critically important national sectors underfunded.

"Several days ago, the Ministry of Finance spent about 60 bln hryvnia on redeeming and paying interests on Eurobonds. This is almost the same amount that was envisioned for the Covid-19 Fund. Still, the situation with the debt is not getting better, but deteriorating — the national debt increased by 18 percent since early 2020. And the administration has no plan on how to ease this burden for the nation’s budget," the MP stated.

According to the politician, the amount spent on national debts interests in 2020 almost equals that spent on healthcare from all the budgets.

"During economic crisis multiplied by the pandemic aftermath, debt accumulation means even more cuts in social expenses each year. This path is fatal for the nation. We need more investments in the economy to see more income for the budget. And it’s obvious that we need totally different people in the government offices for that," Lovochkin said.


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