The government raised nearly 401 billion UAH from bond auctions since the beginning of the year
Throughout January – October 2026, the government raised 345,653.9 million UAH, 452.0 million USD, and 696.7 million EUR from the placement of domestic government bonds. During the same period, 313,058.2 million UAH, 650.0 million USD, and 557.8 million EUR were allocated to redeem internal debt securities. This is reported by the portal PromPolitInform, citing information from the National Bank of Ukraine.
During the first ten months of the current year, the state budget received significant proceeds from the sale of debt instruments at primary auctions. At the same time, the state made regular payments to redeem previously issued securities in various currencies.
Since the beginning of the full-scale invasion and until October 31, 2026, the Government of Ukraine raised 1,827,769.6 million UAH, 11,243.3 million USD, and 3,944.0 million EUR at primary auctions. Redemptions of domestic government bonds over this period amounted to 1,308,212.5 million UAH, 12,145.3 million USD, and 3,479.2 million EUR.
Debt Market Efficiency
Positive fundraising figures were achieved thanks to coordinated actions by the National Bank of Ukraine and the Government of Ukraine. In particular, in 2025 the regulator introduced a mechanism for holding domestic government bond auctions with simultaneous exchange for securities of another issue.
Such changes expanded the toolkit available to the Ministry of Finance of Ukraine for active management of the internal state debt. The maximum yield on hryvnia-denominated securities offered at auctions in October reached 16.75% per annum.
Securities Portfolio
As of November 1, 2026, the total portfolio of domestic government bonds owned by legal entities reached the equivalent of 1,138.1 billion UAH. Individuals hold state bonds worth the equivalent of 173.1 billion UAH, while non-residents account for 18.2 billion UAH.
The total portfolio of military bonds owned by businesses stood at the equivalent of 71.7 billion UAH, compared to 87.0 billion UAH a year earlier. Meanwhile, citizens’ investments in military securities grew to the equivalent of 111.7 billion UAH, up from 76.1 billion UAH as of November 1, 2025.
Redemption of Military Bonds
In October 2026, the Ministry of Finance of Ukraine redeemed military domestic government bonds worth 15,354.7 million UAH. The largest share of these assets traditionally remains concentrated on the balance sheets of primary dealer banks.
The volume of military bonds owned by non-residents currently amounts to 5,696.1 million UAH, 13.1 million USD, and 10.0 million EUR. Citizens and enterprises continue to actively use this financial instrument to support the state economy.
Photo: National Bank of Ukraine
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