Government approves medium-term strategy for public debt management until 2024

A respective draft resolution was approved at a government meeting on December 9, according to an Ukrinform correspondent.

"The draft resolution proposes to define goals, objectives and measures at the legislative level in the medium term in order to optimize the public debt structure. The strategy takes into account indicators defined by the law on the state budget for 2021 and the budget declaration for 2022-2024," said Minister of Finance Serhiy Marchenko.

According to him, the strategy includes an analysis of projected debt indicators and conclusions on debt sustainability, as well as an action plan and indicators of achieving goals.

Marchenko said that the government aims to reduce the ratio of public debt to GDP at the end of 2024 to 47%.

The strategy also outlines four main objectives of public debt management: increasing the share of public debt in the national currency, extending the debt repayment time, attracting long-term privileged financing and developing strong relationships with investors.

"We expect a clear trend to reduce the debt burden in the medium term. The implementation of the previous strategy has already helped achieve significant results. In particular, the share of public debt in national currency was increased from 33.4% in 2018 to 38.2% in 2020 with a corresponding reduction in the share of debt in foreign currencies," Marchenko said.

Ukraine's gross public and publicly guaranteed debt in October exceeded $90 billion.

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