Our Government has inherited a mountain of debts at exorbitant interest rates. Today, it is the largest item of the state budget expenditures, which will average UAH 484 billion a year by 2022. The Prime Minister of Ukraine Oleksiy Honcharuk wrote on his Telegram channel.
“That is why the Government has placed eurobonds at the cheapest interest rates in the history of Ukraine. In layman's terms, we replace debts - we give away expensive ones, and we take much cheaper ones. This is beneficial to our country,” the Prime Minister explained.
Last year, interest rates on Ukraine's foreign borrowings were approximately 6.75% per annum. The Government is currently borrowing € 1.25 billion at 4.375% interest per annum. In fact, this effective solution saves the state budget UAH 2 million per day. And this money will be directed to programs of socio-economic development.
“This clearly demonstrates investor confidence in government policy implemented by the Government under the auspices of President Volodymyr Zelenskyy. Trust in the State is the basis of the investment potential. And investments are jobs for Ukrainians. The higher trust, the lower interest rate. Ukraine is on the right course!”, Prime Minister Oleksiy Honcharuk summed up.