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Ukraine Debt to GDP Ratio

Ukraine's government debt to GDP hit a record 89.8% in 2024, an increase from 82.3% in 2023. This rise is due to borrowing for the ongoing conflict and its economic effects. Public spending increased from 40% to 75% of GDP between 2021 and 2023. This spending surge funded non-military needs, revenue shortfalls and defense. Ukraine's record low government debt to GDP was 40.1% in 2013 and record high was 89.8% in 2024.

Yearly Historical Data (2013-2024)

(in %)
Year Debt to GDP Ratio
2024 89.8%
2023 82.3%
2022 77.7%
2021 48.9%
2020 60.5%
2019 50.5%
2018 60.4%
2017 71.6%
2016 79.5%
2015 79.3%
2014 70.2%
2013 40.1%
Ukraine Debt to GDP Ratio : Definition
Ukraine's government debt to GDP shows its debt relative to economic output. It is calculated by dividing the government's total debt by its gross domestic product. The result is expressed as a percentage.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -8.1% -5.7% Dec'24
Interest Rate 15.5% 15.5% Oct'25
Private Credit (% GDP) 18.65% 23.32% 2023