Ukraine’s National Debt Increased by $6.6 Billion in August 2025

As of the end of August 2025, Ukraine’s national and guaranteed debt reached $192.71 billion, which is $6.58 billion more than in the previous month. This trend indicates an increase in the financial burden on the state.

This is reported by AgroReview

Structure of Ukraine’s National Debt

As of August 31, 2025, external debt constitutes the majority of the total amount — 75.34%, or $145.17 billion. Domestic debt accounts for 24.66% and equals $47.54 billion. The increase in debt obligations affects the macroeconomic stability of the country and requires special attention to debt policy.

Growth of Debt Burden in the Russian Federation

The budget of the Russian Federation for 2026 anticipates that expenditures on servicing national debt will reach 8.8% — more than the total expenditures on education and healthcare. By 2028, this figure is expected to rise to 9.1%. Compared to 2021, when the share of such expenditures was 4.4%, the debt burden has effectively doubled since the onset of the full-scale war against Ukraine.

“According to the forecast of the Ministry of Finance of the Russian Federation, interest payments on the debt will reach ₽4.52 trillion in 2028, compared to the planned ₽3.18 trillion for 2025 and ₽1.08 trillion in 2021. The significant increase in expenditures is explained by the high key rate of the Central Bank of Russia. A 5 percentage point increase in 2024 led to an additional ₽500 billion in costs.”

Thus, the increase in national debt and the costs of servicing it are becoming key factors for the economic policies of both Ukraine and the Russian Federation.