Page 37 - UKRRptOct18

oligarch Rinat Akhmetov. At the same time, the government in Kyiv intended earlier to meet its planned UAH17.1bn of privatisation revenues by the end of 2017.
In 2016 , Kyiv obtained only UAH188.92mn ($7mn) from the privatisation of state-owned assets, or 1.1% of the UAH17.1bn ($627.5mn) plan set in the 2016 budget.
6.2 Debt
DEBT 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017E*
External debt (US$bn, 80 101.7 103.4 117.3 126.2 134.6 142.1 126.3 118.7 113.6 124.2 eop)
External debt (% of 55.8 55.3 91 86.1 77.4 77.3 79.1 96.2 130.4 121.7 126.6 ann'd GDP, eop)
FX reserves (US$bn, 32.5 31.5 26.5 34.6 31.8 24.5 20.4 7.5 12.4 11.9 15.6 eop)
FX reserves (% of 22.6 17.2 23.3 25.4 19.5 14.1 11.4 5.7 13.6 12.8 13.3 ann'd GDP, eop)
External debt / FX 2.5 3.2 3.9 3.4 4 5.5 7 17.7 9.6 9.5 8.0 reserves (x, eop)
FX reserves imports 5.6 3.9 5.9 6 4.1 2.9 2.5 1.3 3.3 3.6 3.3 cov (months)
Source: ICU
Ukraine's foreign debt repayments in 2018 are estimated at $3.25bn. In total, Ukraine is to pay UAH1.505 trillion ($53.63bn) at the NBU's current forex rate to foreign creditors from 2018 to 2045 inclusively.
Ukraine will spend $12bn in 2019 to repay and service foreign debt, Prime Minister Volodymyr Groysman has said. "Every year we have to service state debt for $5bn, or UAH130bn. We need funds for this purpose. I will not say that we need at least 5% [of GDP] to finance the Ukrainian army, and this is another [UAH] 201bn.
Ukraine’s state debt slid 1.1% m/m to $74.9bn in August, the Finance Ministry reported on September 24. Domestic debt dropped 3.8% m/m to $26.8bn, foreign debt increased 0.9% to $37.9bn, and state-guaranteed debt declined 1.4% m/m to $10.1bn. In UAHterms, the state debt climbed 4.5% m/m, with foreign debt rising 6.7% m/m to UAH1,071bn and domestic debt improved 1.7% m/m to UAH759bn. In August, state debt amounted to UAH66.7% of Ukraine’s 2017 GDP. The rise of foreign debt was due to the placement of $725mn in international discount notes on August 23. At the same time, Ukraine’s debt to IFIs declined $37mn, or 0.4% m/m. The debt increase in UAHterms was due to a 3.9% hryvnia depreciation during August. For 2018, we project that the state debt will rise to $78.2bn (67.6% of GDP), assuming IMF cooperation is maintained.
37 UKRAINE Country Report October 2018 www.intellinews.com