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Ukraine's gross foreign debt reaches 93.5% of gross domestic product

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March 17, 2010, 5:30 p.m. | Business — by Interfax-Ukraine
Ukraine's total foreign debt (state and corporate) has reached 93.5% of GDP, Vice Premier Sergiy Tigipko told the press on March 17. The press secretary of vice, premier, Vitaliy Lukianenko, told journalists that such a level of foreign debt was critical for countries with a transition market economy, including Ukraine.

He also said that in April Ukraine is to pay some UAH 6 billion, while April's revenues of the general fund of the national budget are expected at some UAH 12 billion.

Lukianenko said that despite the need to pay the state debt, the Ukrainian cabinet would raise the minimum wage in Ukraine this year to UAH 888.

As reported, nominal GDP in 2009 was UAH 912.563 billion.

In late February 2010, the Ukrainian Finance Ministry reported that the country's total state debt by early 2010 came to 32.9% of GDP, which is an acceptable figure.
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