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Ukraine to restructure state debt if situation in Donbas worsens

Staff writer ▼ | September 18, 2015
Ukraine is capable of once again restructuring its state debt in case of escalation in the country’s east, Finance Minister Natalia Yaresko said when addressing the Ukrainian parliament, which is considering the law on state debt restructuring.
Natalia Yaresko
Ukraine   Finance Minister Natalia Yaresk:
"If a country faces a difficult situation, Ukraine like any obligator is always capable of once againt restructuring its debts," she said.

"You can see what happened to Greece not long ago, they’ve had restructuring not once and not even twice," she added.

Ukraine's public debt at the end of the year will amount to 91% of the country’s GDP, while the National Bank of Ukraine expects the figure to reach 95% of the GDP.

Ukraine’s state budget for 2015 includes revenues of 502.26 billion hryvnia ($23.14 billion), expenses — 566.87 billion hryvnia ($26.12 billion), deficit limit — 75.82 billion hryvnia ($3.49 billion), or 4.1% of GDP, debt ceiling — at the level of 1.394 trillion hryvnia ($64.24 billion).