An increase in the state debt of Ukraine over 9 months of 2010 amounted to 86 billion UAH (1 USD - 7.94 UAH). This is stated in the report on the audit of public and publicly guaranteed debt for 2009 and the 2010 trends analysis of the Accounting Chamber of Ukraine, published on its website.

According to the report, in 2008-2009 Ukraine was increasing its national debt by 100 billion UAH annually.

The cost of servicing and repayment of the debt is also growing rapidly, which poses high risks to timely and full payments. If in 2009 debt payments took each 5th hryvnia of the state budget revenues, in 2010 it will be almost every 4th, the report says.

Thus, in the opinion of the Accounting Chamber experts, the growth of government debt has turned into one of the financial risks of Ukraine. In recent years, the growth dynamics of government debt assumed an alarming rate. In the global ranking of countries with the largest increase in borrowing, Ukraine ranks the 13th. During the GDP fall in 2009 and its slight growth in 2010, this increased the debt burden on public finances and threats stability of the economic situation and economic and financial security of the country, the Chamber reported.

According to the Ministry of Finance, the sum total of public and publicly guaranteed debt of Ukraine as of September 30, 2010 amounted to USD 51,090,041,200.

In 2009, the public debt of Ukraine increased by 61.3% to 39.685 billion USD.

UKRINFORM