In August 2024, the Ministry of Finance of Ukraine attracted UAH 29.1 billion from the issue of domestic government bonds.

Domestic government bonds are one of the largest sources of financing for the State Budget, second only to financial support from the EU. The funds raised are used to meet the financial needs of the state under martial law, including the expenditures of the security and defense sector.

War Bonds accounted for UAH 6 billion of the total amount of domestic government bonds issued in August 2024.

As of September 2, there were over UAH 1.68 trillion worth of domestic government bonds in circulation. The largest share is held by commercial banks (43.7%) and the National Bank (40.3%). The share of legal entities and individuals is 10.3% and 4%, respectively. The share of non-residents is 1.6%, and the share of territorial communities is 0.04%.

In August, the rising demand for domestic government bonds among households continued. While in early August, Ukrainians (individuals) held UAH 63.7 billion worth of government bonds, in early September this amount increased to UAH 67.5 billion.

In August, the weighted average yield on hryvnia-denominated domestic government bonds was 16.15%.

The refinancing level in January-August 2024 amounted to 146%. For comparison, in the first 8 months of 2023, this figure reached 133% for all currencies.

In total, in January-August 2024, the Ministry of Finance of Ukraine raised UAH 318.4 billion equivalent from the placement of domestic government bonds at auctions. During the martial law period, the total amount raised was over UAH 1.1 trillion in equivalent.

Details on the purchasing of War Bonds are available here.