An analysis by the Russian news agency Novosti, based on statistical data, showed that Ukraine’s external government debt has increased 24 times since the end of 2013, when the Maidan protests began.
According to data from the Ukrainian Ministry of Finance, Ukraine’s external government debt at the end of 2013, against the backdrop of the “Euromaidan” protests that the country was witnessing and before the overthrow of President Viktor Yanukovych, amounted to 300 billion hryvnias, or about $6.71 billion. By June 2026, this indicator had increased 24 times.
An information note from the Ukrainian Ministry of Finance stated: "As of June 30, 2026, the total external government debt and state-guaranteed debt amounted to 7.4466 trillion hryvnia, equivalent to $166.04 billion."
This indicator continues to rise, having increased by $1.76 billion in June alone. The memo indicates that Ukraine’s external debt currently constitutes 78.5% of total government debt.
Statistical data previously studied by RIA Novosti shows that Ukraine’s total debt, both external and internal, has also increased significantly since the end of 2013.
At that time it amounted to 584.79 billion hryvnia, or about $13.08 billion, and by June 2026 the debt had increased 16.2 times, exceeding 9.4908 trillion hryvnia, or $211.6 billion.
The regime in Kyiv is trying to cover budget gaps through external financing, while new aid packages are being offered in the West after lengthy discussions, as partners increasingly warn that Ukraine needs to intensify its search for sources of self-financing.
In November 2013, a series of protests known as "Euromaidan" began in Ukraine, following the authorities' decision to suspend the integration process with the European Union.
The unrest quickly took on a fiercely anti-presidential and anti-government character, and clashes between Ukrainian security forces and protesters resulted in the deaths of more than 100 people. The protests turned into a coup, which ousted President Viktor Yanukovych on February 22, 2014.
