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Ukraine's Debt Update: Figures as of October 2025

As of October 2025, Ukraine's public and guaranteed debt increased by 252 billion UAH. Details on external and internal debts.

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As of October 2025, Ukraine's debt rose by 252 billion UAH, amounting to 8,276.2 billion UAH, equivalent to 197.2 billion USD. This was reported by the Ministry of Finance of Ukraine.

At the end of October 2025, the external debt stood at 6,090.87 billion UAH (73.6%), or 145.12 billion USD, while the internal debt accounted for 1,899.14 billion UAH (22.9%), equivalent to 45.25 billion USD. The guaranteed state debt reached 286.2 billion UAH (3.4%), or 6.8 billion USD.

In October, the total public and guaranteed debt increased by 252 billion UAH (2.98 billion USD). The primary factor for this increase was the receipt of concessional financing from international partners, notably a 4 billion euro loan from the European Union under the G7 initiative.

Moreover, Ukraine received funding from the World Bank: 280 million USD for the SURGE project and 30 million USD for the THRIVE project, along with a 100 million euro loan from the Council of Europe Development Bank to address the needs of internally displaced persons.

It is also noted that the guaranteed state debt decreased by 5.6 billion UAH in October, with the guaranteed external debt falling by 2.76 billion UAH to 208 billion UAH, and the guaranteed internal debt decreasing by 2.87 billion UAH to 78.2 billion UAH.

Regarding creditors, the majority of the public debt consists of concessional loans obtained from international financial organizations and foreign governments, accounting for 65.2%. Issued securities on the domestic market represent 23.7%, while those on the external market account for 8%, and loans from commercial banks and other financial institutions make up about 3.1%.

From January to October 2025, the Ministry of Finance conducted 137 auctions for the placement of government bonds, raising 473.1 billion UAH, as well as one switch auction for 15.5 billion UAH, allowing for a reduction in short-term budget pressure. The refinancing level for market government bonds stands at 112%: 112% in UAH, 84% in USD, and 87% in EUR.