IMF: Ukraine’s public debt to exceed 94% of GDP
The International Monetary Fund, Ukraine’s key creditor, forecasts growth of the country’s gross public debt to 94.4% by the end of 2015, followed by reduction of this indicator by 2020, that’s according to the IMF’s forecast, published on the website of the organization.
In particular, according to the forecasts of the Fund, the national debt will slightly decrease, to 92.1% of GDP, in 2016, while the most serious debt reduction is expected in 2019 and 2020 - to 76.9% of GDP and 70.8% of GDP respectively, according to the report.
At the same time the IMF forecasts growth of public revenues by 2020 and a reduction of public spending.
In particular, in 2015, the expenditures will amount to about 45% of GDP, while by 2020 this figure will drop to 42%. The indicator of government revenues will slightly deviate from the 40% target over the next 5 years - from 39.7% of GDP in 2015 to 39.9% of GDP in 2020.
As UNIAN reported earlier, the Ukrainian Government projects Ukraine's public and publicly guaranteed debt to hit 91.1% of the country's GDP by the end of 2015 (prior to debt transactions performance), according to the Ukrainian government estimates.
As UNIAN reported earlier, public debt in the hryvnia equivalent increased by UAH 394.059 billion, or by 35.8%, up to UAH 1.494 trillion in January-August, 2015.
In January-May Ukraine's public and publicly guaranteed debt reduced by $2.151 billion, or 3.08%, to $67.661 billion.
In 2014, public and publicly guaranteed debt denominated in foreign currency declined by 4.53% amounting to $69.794 billion, and in the hryvnia equivalent increased by 1.9 times to UAH 1.101 trillion.
The National Bank of Ukraine forecasts total public and publicly guaranteed debt of Ukraine in the current year will reach 95% of GDP.
According to the state budget of Ukraine for 2015, revenues are projected at UAH 502.260 billion, expenses – at UAH 566.870 billion, with the maximum amount of the deficit set at UAH 75.820 billion, or 4.1% of GDP, and the debt ceiling set at UAH 1.394 trillion.