Ukraine's national debt has reached a record high, with media reporting a staggering figure.

In April 2024, Ukraine's national debt reached 92% of the country's Gross Domestic Product (GDP). This information comes from the publication Forbes Ukraine, citing data from its own analytical department.

Reporters note that Ukraine's national debt is now nearly 7 trillion hryvnias. Of this amount, the direct debt of the country accounts for 96% of the estimated total, while 4% pertains to debts guaranteed by the state.

Analysts indicate a trend of increasing national debt from 2021 to 2024. According to data from the publication's analytical center, the total debt volume was 2.67 trillion hryvnias or 49% of GDP.

With the onset of Russia's full-scale invasion of Ukraine, the amount of borrowing began to rise to finance the "military budget." By 2023, analysts determined that the total national debt had already surpassed 5.5 trillion hryvnias, or 84% of GDP.

Journalists point out that the growth of debt is also due to the depreciation of the hryvnia against the major currencies of the world. This fluctuation has led to an increase in the "hryvnia scale of debts in foreign currency."

Previously, it was reported how Ukraine's national debt is growing and whether it will be written off. Economist Oleksiy Kushch states that Ukraine's creditors have begun to threaten default if interest payments on Eurobonds are not resumed.

Subsequently, it became known how Ukraine's refusal to service its national debt will impact the country's economy. Financial analyst Andriy Nesteruk explains what lies behind this alarming term and what potential scenarios may unfold.