Ukraine missed its state borrowing target by 513 billion hryvnia in nine months

In the first three quarters of the year, Ukraine failed to meet its state borrowing plan by 513 billion hryvnia. The actual volume of funds received into the general fund of the state budget amounted to 717.2 billion hryvnia, corresponding to only 58.3% of the planned indicator.

Lagging behind target indicators

Data from the Ministry of Finance indicates that the state was supposed to raise approximately 1.23 trillion hryvnia during this period. Compared to last year, when the plan was 92.9% fulfilled by the same date, current figures demonstrate a significant lag.

Reduction in external financing

The largest gap between the plan and actual results is observed in the external borrowing sector. Over nine months, Ukraine received 355.1 billion hryvnia, whereas during the same period last year, this amount was 938.1 billion hryvnia. This implies a reduction of 583 billion hryvnia, or approximately 62%.

Meanwhile, internal borrowings through internal state debt bonds (OVDP) decreased much less: from 382.3 billion hryvnia last year to 362.1 billion hryvnia this year.

Dynamics of military OVDP

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Receipts from military OVDP also decreased separately. Over nine months, they brought in 130.9 billion hryvnia, which is less than last year's figure (172 billion hryvnia).

The Ministry of Finance previously noted that a significant lag in raising external funds became one of the reasons for introducing a special payment regime for the State Treasury Service by the end of the year.