Ukraine's debt reaches almost 9.5 trillion UAH but becomes cheaper to service

Ukraine's state and state-guaranteed debt as of the end of June 2026 amounted to 9.49 trillion UAH, or $211.6 billion.

Over the month, the debt volume in hryvnia equivalent increased by 173.9 billion UAH. Growth in US dollar terms was much smaller – about $900 million.

The main reason for the increase was new concessional financing inflows from the European Union and the World Bank, which are directed to cover Ukraine's budget needs under wartime conditions.

At the same time, the growth in hryvnia terms does not mean a proportional increase in the real debt burden. The amount is influenced by the revaluation of external obligations due to exchange rate changes, since a significant part of the debt is nominated in euros and dollars.

Compared to the end of 2025, the state and guaranteed debt grew by roughly 457 billion UAH, or 5%. However, in US dollar equivalent it decreased by about $1.7 billion – from $213.3 billion to $211.6 billion.

Head of the parliament committee on finance Danylo Hetmantsev noted that Ukraine's debt portfolio has become cheaper to service and extended in repayment durations. This is linked to the high share of concessional loans from international partners, provided on long-term periods with below-market rates.

This structure reduces the risk of having to repay large amounts swiftly, and allows for distributing debt payments over a long period. Meanwhile, further sustainability of public finances will depend on the volumes of international support, the state of the economy, and defence spending.

Source materials: Danylo Hetmantsev, Ministry of Finance of Ukraine