27 September 2022, Tuesday, 15:47 207

Payments On Government Bond Repayments Since Beginning Of War Exceed Borrowing By UAH 54.7 Billion

Редактор: Tetiana Herasimova

During Russia's full-scale war against Ukraine, the amount of funds paid by the government for the repayment of domestic debt instruments by UAH 54,668.9 million exceeds the amount of funds raised in the state budget at auctions for the sale of government domestic loan bonds.

This is evidenced by the data of the NBU depository, Ukrainian News Agency reports.

From February 24 to September 25, 2022, the government sent UAH 149,216.0 million, USD 1,539.4 million and EUR 168.0 million to repay government domestic loan bonds, and raised UAH 99,761.4 million, USD 969.5 million and EUR 468.4 million from the placement of new domestic debt instruments at auctions.

From April to August, the amount of funds received by the government at auctions for the sale of government bonds was lower than the amount of repayments on the relevant instruments.

In particular: in April, the negative balance of the government's internal debt transactions amounted to UAH 2,850.5 million; in May - UAH 411.0 million; in June - UAH 20,997.2 million; in July - UAH 17,095.7 million; in August - UAH 24,456.2 million.

Since the beginning of September, the volume of funds raised in the state budget at auctions for the sale of government bonds by UAH 476.8 million exceeds the amount of funds paid by the government for the repayment of domestic debt instruments.

During martial law, the Ministry of Finance increased rates on several hryvnia-denominated government bonds (the maximum yield is 16% per annum), as well as for all dollar government bonds (the maximum yield is 4.5% per annum).

The yield on hryvnia government bonds placed for 3 months has not changed since the beginning of the full-scale war and amounted to 9.5% per annum, as well as on war government bonds denominated in euros (2.5% per annum for all maturities).

As of September 26, 2022, the largest portfolio of relevant securities is held by banks - primary dealers.

The second largest is a portfolio of war bonds, concentrated by citizens and business of Ukraine.

It constitutes:

- UAH 14,128.3 million (15.8% of the total volume of purchased war government bonds denominated in hryvnia);

- USD 199.9 million (22.7% of the total volume of purchased war government bonds denominated in dollars);

- EUR 150.3 million (52.6% of the total volume of purchased war government bonds denominated in euros).

Non-residents own war bonds worth more than UAH 1,151.7 million and USD 2 million.

As Ukrainian News Agency earlier reported, the National Bank on March 22, 2022 began publishing statistics of the NBU depository on war bonds on a weekly basis.

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