Ukraine's National Debt Exceeds 200 Billion Dollars: New Data for November 2025

Ukraine's National Debt Exceeds 200 Billion Dollars

According to ХВИЛЯ: The total national debt of Ukraine as of November 2025 reached 204.22 billion US dollars, increasing by 7.03 billion dollars in a month. This information indicates a continued trend of increasing debt obligations of the state.

The debt of Ukraine for November 2025 in the equivalent of hryvnias amounts to 8,616.54 billion hryvnias, which recorded an increase of 340.33 billion hryvnias in just one month. The debt structure shows that the external debt accounts for 76.93% of the total amount, equivalent to 157.10 billion dollars. Accordingly, domestic debt is 23.07%, or 47.12 billion dollars.

Analysis of Debt Obligations

It is noteworthy that the direct state debt accounts for 96.67% of the total amount, which today stands at 197.41 billion dollars, while the guaranteed state debt constitutes 3.33%. It should be noted that in August 2024, Ukraine completed the restructuring of external debt with private creditors, during which 37% of the nominal value of the debt was written off.

Experts predict that Ukraine's debt burden will exceed 100% of GDP in 2025-2026, highlighting the need for further economic reforms and managerial decisions to stabilize the financial situation in the country. In light of such debt growth, issues of public finances remain relevant for the Ukrainian economy.

The growth of Ukraine's national debt to over 200 billion dollars indicates serious financial challenges that the country faces amid economic instability.

The presence of significant external debt indicates the state's dependence on international creditors and possible risks associated with meeting obligations. In the future, Ukraine may need to adapt its economic policy to ensure financial stability and reduce debt burden.