In February, public and publicly guaranteed debt decreased by UAH 1.4 billion

Ukraine continues to responsibly manage its public debt under the conditions of a full-scale war. Thanks to the support of international partners and the Government’s prudent debt policy, the Ministry of Finance is reducing debt servicing costs and extending maturities.

As of February 28, 2026, Ukraine’s public and publicly guaranteed debt amounted to UAH 9,211.2 billion, or USD 213.18 billion, including:

• public external debt — UAH 6,931.02 billion (75.25%), or USD 160.41 billion;
• public domestic debt — UAH 2,009.62 billion (21.82%), or USD 46.1 billion;
• publicly guaranteed debt — UAH 270.55 billion (2.94%), or USD 6.26 billion.

In February 2026, Ukraine’s public and publicly guaranteed debt decreased by UAH 1.41 billion, while in USD terms it declined by USD 1.8 billion. In particular, public external debt decreased by UAH 10.08 billion (USD 1.6 billion) — to UAH 6,931.02 billion (USD 160.4 billion). Public domestic debt increased by UAH 16.97 billion and as of February 28 amounted to UAH 2,009.62 billion (USD 46.5 billion). Publicly guaranteed debt decreased by UAH 8.29 billion in February, namely:

• publicly guaranteed external debt decreased by UAH 8.25 billion — to UAH 207.87 billion;
• publicly guaranteed internal debt decreased by UAH 0.04 billion — to UAH 62.68 billion.

The reduction in public and publicly guaranteed debt in February was driven by the repayment of debt obligations to partner countries and the revaluation of foreign currency liabilities due to exchange rate changes at the end of the month compared to the previous period.

In the creditor structure of public and publicly guaranteed debt, concessional loans received from international financial institutions and foreign governments dominate — 65.6%. The share of government securities placed on the domestic market is 21.8%, on the external market — 9.2%, while loans from commercial banks and other financial institutions account for about 3.4%.

As of February 28, 2026, the weighted average interest rate on public debt stood at 4.53%, compared to 4.51% in January 2026 and 6.2% in February 2025. At the same time, the weighted average maturity was 13.23 years, compared to 13.39 years in January 2026 and 11.7 years in February 2025. Thus, on a year-on-year basis, the debt portfolio has become cheaper and longer in maturity, reducing servicing costs and refinancing risks in the medium term.

In the currency structure of public and publicly guaranteed debt, the largest share is denominated in euros — 44.9%, followed by US dollars (22.5%) and hryvnia (20.1%). The shares of Special Drawing Rights (SDRs) and other currencies — including British pounds, Canadian dollars, and Japanese yen — account for 8.5% and 3.1%, respectively.

In February 2026, the Ministry of Finance conducted 12 auctions for the placement of domestic government bonds and raised UAH 56.7 billion (equivalent) for the state budget. The Ministry also conducted one switch auction worth UAH 10 billion, which helped reduce short-term budgetary pressure and optimize the structure of domestic debt.

At the end of 2025, the ratio of public debt to GDP stood at 98.15%. Excluding ERA loans and debt owed to the russian federation, this indicator was 86.3% of GDP.

Detailed information on the state of Ukraine’s public and publicly guaranteed debt is available on the official website of the Ministry of Finance of Ukraine.