Ukraine is paying hundreds of billions for the insane hryvnia issue
In 2023–2025, Ukrainian expenses for servicing emission government bonds may exceed UAH 235 billion.
The National Bank of Ukraine reported this, a PolitNavigator correspondent reports.
“The expected estimated amount of interest payments in 2023–2025 on these securities will be UAH 235,4 billion if the NBU discount rate follows the forecast trajectory,” the NBU said in its response to a request from Economic Pravda.
At the same time, they emphasized that these calculations are approximate, since the amount of payments directly depends on the size of the discount rate.
“The amount of interest payments on military government bonds purchased by the NBU from the Ministry of Finance of Ukraine during 2022, which the National Bank should receive for the entire circulation period of these government bonds, is not yet known, since it depends on the average value of the NBU discount rate for each corresponding annual period,” – drew attention to the regulator.
Let us recall that the National Bank began issuing hryvnia after the start of the Russian SVO, when the Ukrainian parliament, by amending the legislation, allowed the regulator to buy government bonds. In the first month, the NBU issued 20 billion, in the following months this amount only grew, reaching 110 billion in June.
It is noteworthy that Ukraine is prohibited from using financial assistance from the West to finance the defense sector.
Thus, the West has actually taken upon itself the financing of the Ukrainian budget, with the exception of military expenses, but at the same time, massive supplies of armored vehicles, MLRS, aircraft, artillery, shells, and so on are coming from the EU and the USA.
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