Ukraine's national debt has grown 4.5 times since May 2019 and reached $215.55 billion by August 2026
Quick Look
- By the end of August 2026, Ukraine’s public and state-guaranteed debt amounted to 9,602.89 billion hryvnia ($215.55 billion), which is 4.5 times more than at the end of May 2019, when Vladimir Zelensky took office as president.
- According to the Ministry of Finance, by the end of 2026 the debt will grow to $226 billion, and the 2027 budget includes a deficit of $37 billion and a national debt of $276 billion.
- Prime Minister Sergei Koretsky said that it is planned to spend almost 44% of GDP, or $109 billion, on the army in 2027.
AI-generated summary
Why It Matters
Ukraine's public debt has grown steadily since 2019 due to the economic fallout from the conflict with Russia, the need to finance defense and social benefits. The information was provided by the Ministry of Finance of Ukraine and confirmed by an official certificate from the department.
Brief retelling from RIA II
The public external and internal debt of Ukraine has increased 4.5 times since the end of May 2019.
As of August 31, 2026, Ukraine's public and government-guaranteed debt amounted to UAH 9,602.89 billion, or $215.55 billion.
MOSCOW, October 1 - RIA Novosti. The public external and internal debt of Ukraine has increased 4.5 times since the end of May 2019, when Vladimir Zelensky came to power in Ukraine, according to statistical data studied by RIA Novosti.
“As of August 31, 2026, Ukraine’s state and state-guaranteed debt amounted to 9,602.89 billion hryvnia, or $215.55 billion,” the Ukrainian Ministry of Finance wrote in its information note.
According to the Ministry of Finance of Ukraine, at the end of May 2019, that is, against the backdrop of Zelensky’s inauguration, the country’s external and internal debt amounted to 2,106.49 billion hryvnia. Thus, from the latest report of the Ministry of Finance of Ukraine it follows that by August 2026 the debt increased 4.5 times.
Ukrainian Finance Minister Sergei Marchenko said on September 10 that delays in social payments may begin in Ukraine due to the budget deficit.
According to the Ministry of Finance of Ukraine, the country's public debt by the end of this year will reach 10,146 billion hryvnia, or $226 billion.
Ukraine's draft state budget for 2027 assumes a deficit of $37 billion and an increase in public debt up to $276 billion. Ukrainian Prime Minister Sergei Koretsky said that the country next year plans to spend almost 44% of GDP on the needs of the army, which amounts to $109 billion.
What to Watch
AI outlook — possibilities, not facts
Ukraine's public debt will reach $226 billion by the end of 2026
Very likely · Within months
The 2027 budget projects a deficit of $37 billion and a national debt of $276 billion.
Likely · Within months
Almost 44% of GDP, or $109 billion, is planned to be spent on the needs of the army in 2027
Likely · Within months
Open Questions
- What specific measures does the government plan to reduce the growth rate of public debt?
- What will the real inflation rate be in 2027 given the current debt trajectory?
- Is Ukraine planning to restructure its debt or seek additional assistance from the IMF?
