In January-April 2026, the government raised over UAH 184 billion in equivalent from the sale and exchange of domestic government bonds at auctions. Since the beginning of the full-scale war, the volume of raising through government bonds has exceeded UAH 2.211 trillion. This is reported by Kurs Ukrainy, the PromPolitInform portal reports.
According to the National Bank depository, during the first four months of 2026, the government raised UAH 153.9 billion, $351.5 million, and EUR 294.9 million from the placement of government bonds. During the same period, UAH 104.7 billion, $650 million, and EUR 188.8 million were used to repay domestic government securities.
In total, from the beginning of the full-scale invasion until April 30, 2026, the government raised UAH 1.636 trillion, $11.14 billion, and EUR 3.54 billion at primary auctions. UAH 1.1 trillion, $12.15 billion, and EUR 3.11 billion were used to repay government bonds during this period.
The NBU attributes the stable operation of the domestic debt market to the joint actions of the government and the regulator. In particular, in 2025, the National Bank provided the possibility of settlements under a new type of government bond placement – through auctions with simultaneous exchange for other bond issues already in circulation.
In April, the government offered rates for government bonds at the market level. The maximum yield of securities placed at auctions was 16.2% per annum in hryvnia, 3.24% in US dollars and 3.25% in euros.
As of May 1, 2026, legal entities had the largest portfolio of government bonds among non-bank owners – UAH 1.19 trillion in equivalent. They owned UAH 1.103 trillion in hryvnia securities, $1.15 billion and EUR 699.4 million in bonds of the corresponding currency issues.
Individuals held government bonds worth UAH 137.2 billion in equivalent. Their portfolio consisted of UAH 86.3 billion, $962.7 million and EUR 166.3 million. The portfolio of non-residents was significantly smaller – UAH 15.8 billion in equivalent, including UAH 14.7 billion, $12.8 million and EUR 10 million.
Separately, the NBU provided statistics on military bonds. As of May 1, the largest volume of these securities was still concentrated in banks – primary dealers. Business excluding banks held military government bonds worth UAH 95.7 billion in equivalent, while a year ago this portfolio amounted to UAH 102.9 billion.
The portfolio of military bonds owned by individuals grew from UAH 72 billion to UAH 94.1 billion in equivalent over the year. This indicates that the population remains one of the important sources of domestic financing of the state during the war.
In April, the Ministry of Finance redeemed military government bonds worth UAH 10.63 billion, $200 million, and EUR 188.8 million. For the budget, the domestic debt market remains one of the key instruments for financing the state’s needs, and for investors – a way to place funds with a fixed yield in hryvnia and foreign currency.
