Ukraine to cut state borrowings by 24 percent in 2017

The Ukrainian government next year targets to cut the state borrowings by 24 percent to 7.16 billion U.S. dollars, according to a cabinet's budget support plan unveiled here on late Tuesday.

Out of the total sum, some 3.26 billion dollars will be attracted from international creditors, while the rest will be sourced locally, the document said.

In 2017, Ukraine will spend a total of 8.97 billion dollars to repay and serve its debts to foreign and domestic lenders, it said.

At the end of October, Ukraine's state debt stood at 55.5 billion dollars or 65.5 percent of the projected gross domestic product for 2016. Endit