The government approved additional borrowings of 55 billion UAH: where the funds will go

Additional state borrowings of Ukraine in 2025

According to ХВИЛЯ: The government of Ukraine approved additional state borrowings in 2025 amounting to up to 55 billion UAH. This decision was made by the Budget Committee of the Verkhovna Rada, aimed at financing the deficit of the general fund. According to the information, the annual borrowing plan amounts to 2.1 trillion UAH, of which 95.1% has been executed. To date, nearly 2 trillion UAH has already been used to finance the deficit.

Main sources of borrowing

The main sources of replenishing the treasury in 2025 include:

• ERA loans amounting to 997.6 billion UAH;
• government domestic loan bonds (OVDP) for 539 billion UAH;
• Ukraine Facility from the European Union for 373.2 billion UAH;
• funding from the International Monetary Fund and the World Bank exceeding 80 billion UAH.

It is expected that by the end of the current month, another 125 billion UAH will arrive, including a tranche from the EU amounting to 2.1 billion euros.

Roksolana Pidlasa, representative of the Ministry of Finance, noted that this step will allow attracting more funds through OVDP to create the necessary cash reserve for the first quarter of 2026.

She also emphasized that the amount of 55 billion UAH is a maximum limit set 'with a large margin'. According to her, the actual volumes of above-planned borrowings may turn out to be significantly lower, noting the experience of 2019 when, with permission for 10 billion UAH, the state actually borrowed less than half.

The approval of additional borrowings indicates a continuation of the policy of financing state expenditures in conditions of high budget deficit. This decision also reflects the need to ensure liquidity and stability of the country's financial system in the face of economic challenges. Attracting external and internal borrowings is critically important for supporting state programs and ensuring the country's development in the near future.