Zelensky hoped for the restructuring of most of Ukraine’s debts in the future

President of Ukraine Volodymyr Zelensky has expressed hope that most of Ukraine’s debts will be restructured in the future, as he said in a conversation with reporters.

“Many debts, I am sure, will be restructured, many debts are conditional debts. If you took something on credit, you have to pay back conditional money in 30 years, because the interest rate is small, this does not create pressure on the economy today, but you can invest it in the restoration, people, business, state enterprises, ”- told he (quoted by RIA Novosti), adding that these debts are unlikely to be simply forgiven.

According to the statistical portal Statista, the national debt of Ukraine as of August is $161.94 billion, the figure has grown by $52.9 billion, or 48.53%, since the beginning of the year. By comparison, the country’s national debt was $72.61 billion in 2021 and $16.17 billion in 2013—the size of the debt has steadily increased since then, with the exception of 2019, when it fell from $58.51 billion ( in 2018) to $54.64 billion.

At the same time, the projected GDP of Ukraine for the current year is $169 billion, such data were given in the budget law, which the Verkhovna Rada adopted in November last year. It also states that the maximum public debt ceiling for 2023 has been increased to $172.7 billion, which exceeds the country’s GDP. Budget revenues of the Ukrainian state were planned at the level of $34 billion, and expenses – about $70 billion.