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Cabinet plans to reduce national debt to 50.8% of GDP in 2022

The Government of Ukraine plans to reduce the national debt to 50.8% of GDP in 2022.

"Our Government's priorities are still to maintain the sustainability of public finances and macro-financial stability. The intermediate goal for this year is to reduce the national debt to 50.8% of GDP," Prime Minister Denys Shmyhal said at the Cabinet’s meeting, an Ukrinform correspondent reports.

He noted that in order to make public policy predictable, the Government will continue the practice of medium-term planning, draft the budget declaration for the coming years and the state budget for 2023 on its basis.

"Cooperation with our international partners, which give Ukraine financial support and soft loans for development, will be an extremely important issue in this context. We want to launch new projects and cooperation programs to ensure economic recovery and achieve sustainable economic growth in Ukraine," the Prime Minister noted.

In particular, Shmyhal pointed out continuing macro-financial assistance from the EU and launching a new joint program with the IMF upon the completion of the current program.

As reported, according to the latest estimates, the national debt-to-GDP ratio fell to 51.7% in 2021.

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