Ukraine's national debt fell by nearly $2 billion in February — Ministry of Finance
As of the end of February 2026, Ukraine’s total public and state-guaranteed debt stood at $213.18 billion. According to the Ministry of Finance, the debt decreased by approximately $1.8 billion over the course of the month.
This was reported by the Ministry of Finance.
Ukraine’s liabilities amounted to 9,211.2 billion UAH, or $213.18 billion, including:
- public external debt – 6,931.02 billion UAH (75.25%), or $160.41 billion;
- public domestic debt – 2,009.62 billion UAH (21.82%), or $46.1 billion;
- state-guaranteed debt – UAH 270.55 billion (2.94%), or $6.26 billion.
During February 2026, total debt decreased by 1.41 billion UAH, which is equivalent to $1.8 billion. Specifically, external government debt decreased by 10.08 billion UAH ($1.6 billion) to 6,931.02 billion UAH ($160.4 billion).
Domestic public debt increased by 16.97 billion UAH and reached 2,009.62 billion UAH ($46.5 billion) by the end of the month.
State-guaranteed debt decreased by 8.29 billion UAH in February:
- state-guaranteed external debt decreased by 8.25 billion UAH to 207.87 billion UAH;
- state-guaranteed domestic debt decreased by UAH 0.04 billion to UAH 62.68 billion.
The decrease in debt in February was due to the repayment of obligations on loans from partner countries and the revaluation of foreign currency portions due to changes in exchange rates.
Concessional loans from international financial organizations and foreign governments dominate the creditor structure—65.6%. Domestic government securities account for 21.8%, foreign securities—9.2%, and loans from commercial banks and other institutions—about 3.4%.
As of February 28, 2026, the weighted average interest rate on government debt was 4.53%, compared to 4.51% in January 2026 and 6.2% in February 2025. The weighted average maturity was 13.23 years, compared to 13.39 years in January 2026 and 11.7 years in February 2025.
On an annual basis, the portfolio became cheaper and longer-term, reducing servicing costs and refinancing risks.
Currency structure of debt:
- Euro – 44.9%;
- US dollar – 22.5%;
- UAH – 20.1%.
- The shares of SDRs and other currencies (pounds sterling, Canadian dollars, yen) amount to 8.5% and 3.1%, respectively.
In February 2026, the Ministry of Finance raised UAH 56.7 billion for the budget through 12 auctions of domestic government bonds. A switch auction for UAH 10 billion was also held to optimize the structure of domestic debt and reduce the short-term burden on the budget.
According to 2025 results, the government debt-to-GDP ratio stood at 98.15%. Excluding ERA loans and debt to Russia, this figure was 86.3% of GDP.
Ukraine’s public debt rose by nearly $3 billion in October.
This year, Ukraine’s public debt will exceed or has already exceeded 100% of GDP. UA.News decided to find out what economic experts think about this and whether such a situation poses a catastrophe for the state.
We previously reported that in February 2025, Ukraine’s national debt exceeded 7 trillion hryvnias.
