Ukraine Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Ukraine's government debt to gdp was 108.64% in 2025, ranked 12th globally. This represents a 21.1% increase from 2024. Data from IMF WEO, covering 1997–2025.
Overview
Ukraine's government debt to gdp stood at 108.64% in 2025, a rise of +18.92% from 2024. The IMF projects 108.64% by 2025. Ukraine ranked 12th globally.
Ukraine’s general government debt rose from a low of 12.27 % of GDP in 2007 to an all‑time peak of 108.64 % in 2025, placing it 12th globally and slightly below Canada’s 113.94 % and Belgium’s 107.50 % in the same year. The 29‑year series shows a modest level of 28.89 % in 1997, after which debt remained under 30 % for more than a decade before accelerating sharply following the 2014 conflict and the 2022 invasion, which together drove fiscal deficits and borrowing to historic highs. The post‑2007 trough reflects a period of relatively sound public finances, while the steep climb after 2014 underscores the fiscal strain of war‑related expenditures and external financing. Despite a slight moderation in 2024, the 2025 figure signals that debt remains well above pre‑conflict levels. Continued macro‑stabilisation, structural reforms and a durable peace settlement would be required to reverse the upward trajectory and bring the debt ratio back toward pre‑crisis levels.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 94.11% | - | - |
| 2029* IMF | 98.30% | - | - |
| 2028* IMF | 102.88% | - | - |
| 2027* IMF | 106.39% | - | - |
| 2026* IMF | 110.39% | - | - |
| 2025* IMF | 108.64% | - | - |
| 2025 | 108.64% | +18.92% | #12 |
| 2024 | 89.72% | +8.51% | #159 |
| 2023 | 81.21% | +3.49% | #149 |
| 2022 | 77.72% | +28.80% | #141 |
| 2021 | 48.92% | −11.59% | #69 |
| 2020 | 60.51% | +10.05% | #100 |
| 2019 | 50.45% | −9.90% | #99 |
| 2018 | 60.35% | −11.27% | #125 |
| 2017 | 71.62% | −7.89% | #146 |
| 2016 | 79.51% | +0.18% | #158 |
| 2015 | 79.33% | +9.01% | #159 |
| 2014 | 70.32% | +29.80% | #150 |
| 2013 | 40.52% | +2.98% | #95 |
| 2012 | 37.54% | +0.67% | #97 |
| 2011 | 36.88% | −3.75% | #97 |
Detected Pattern
Analysis
Ukraine matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw government debt to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Ukraine's government debt to gdp was 108.64% in 2025. Ranked 12th globally. This represents a 21.1% increase from the previous year.
Ukraine's government debt to gdp peaked at 108.64% in 2025.
The lowest government debt to gdp in Ukraine was 12.27% in 2007.
Ukraine ranks 12th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Ukraine's government debt to gdp is projected to reach 108.64% by 2025 based on IMF projection.
The government debt to gdp of Ukraine in 2025 was 108.64%. This ranks 12th in the world.
Cite this page
@misc{historysaid_ukraine_government-debt-to-gdp,
title = {Ukraine Government Debt to GDP},
url = {https://historysaid.com/ukraine/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}