Ukrainians increase their investments in government bonds by a record amount in 1 year to over $15bn

Ukrainians invested a record amount of 639.5 billion hryvnias ($15.2 billion) in domestic government bonds in 2024, according to the Ministry of Finance. This figure is over 73 billion hryvnias ($1.7 billion) more than in 2023, indicating a growing interest in government bonds.

As of December 30, Ukrainians held bonds totaling 1.84 trillion hryvnias ($43.7 billion).

"For the second year in a row, we have managed without emission financing. The record amount of funds raised by the government on the domestic bond market—nearly 640 billion hryvnias ($15.2 billion) compared to last year's 566 billion hryvnias ($13.4 billion)—along with strong support from international partners, has enabled us to finance the budget deficit," said Andriy Pyshnyy, the governor of the National Bank of Ukraine (NBU).

The NBU specified that in 2024, the Ministry of Finance:

• Raised 497,806.9 million hryvnias ($11.8 billion), $2,728.1 million, and 754.9 million euros from the placement of domestic government bonds at auctions.
• Allocated 245,437.9 million hryvnias ($5.8 billion), $2,476.6 million, and 918.3 million euros for the redemption of domestic debt securities.

The rollover of investments in domestic government bonds for 2024 amounts to 155% in nominal terms across all currencies at the current official exchange rate.

By January 1, 2025, physical and legal entities had doubled their portfolio of military bonds to 171.4 billion hryvnias ($4.1 billion), compared to 85.4 billion hryvnias ($2 billion) on January 1, 2024.

According to the central bank, the government has raised nearly 1,458 billion hryvnias ($34.6 million) from the sale of domestic government bonds at auctions during the war.

In late October 2024, the Diia app began selling two new military bonds named after temporarily occupied cities in Donetsk Oblast—"Debaltseve" and "Avdiivka."

On October 7, the head of the tax committee in the parliament, Danil Getmantsev, proposed introducing a mandatory system for Ukrainians to purchase military bonds.