Ukraine's gross public debt in 2022 due to the war unleashed by Russia will increase to 86.2 percent of GDP after declining from 61 percent of GDP to 49 percent of GDP last year, the International Monetary Fund predicts.

According to the Fiscal Monitor released on Wednesday, the government debt will remain at this new high level in the coming years due to a sharp widening of the state budget deficit and falling GDP.

In particular, by the end of 2023, the IMF expects Ukraine's public debt to reach 78% of GDP, 2024 - 78.7% of GDP, 2025 - 82.9% of GDP, 2026 - 88.7% of GDP and 2027 - 92.3% of GDP.

As previously reported, the Fund predicts that Ukraine's GDP will fall by 35% in 2022 and has so far refrained from assessing its dynamics in subsequent years because of the great uncertainty.

According to IMF expectations, the state budget deficit of Ukraine will increase to 17.8% of GDP this year from 4% of GDP in 2021. In the following years, it will also remain at a very high level: 2023 - 13.1% of GDP, 2024 - 11.9% of GDP, 2025-2026 - 10.9-10.8% of GDP and will reduce to single digits only in 2027 - 9.3% of GDP.