The debt of Eastern Europe in 2023 reached a record $ 32 billion

Eastern European governments have already lent nearly $32 billion this year, three times more than the same period last year, Bloomberg wrote, citing data collected by the company.

For the first time in a decade, three countries in Eastern Europe – Poland ($9 billion), Romania ($6 billion), and Hungary ($5 billion) – are among the top five borrowers from countries still developing in foreign markets.


Eastern Europe is experiencing huge financial losses, as government spending has increased significantly due to the need to stop the war and the cost of living for Ukrainian refugees.

The authors believe that due to the conflict in Ukraine, the bond market has undergone significant changes. Borrowing has become more expensive – even for limited governments – after central banks around the world raised interest rates.

For example, Poland pays 5.5% per year on new 30-year bonds. In 2021, the same bond will sell less than 4%, according to experts. Bloomberg analysts estimate that the budget deficit of Eastern Europe will reach 4.3% of the region’s gross domestic product this year, from 1.3% in 2021. Selling dollars and Eurobonds in emerging markets fell to $ 104 billion last year, the lowest since 2013, according to the report.

Bloomberg data. The West has increased sanctions pressure on Russia for Ukraine, raising electricity, fuel, and food prices in Europe and the United States. President Vladimir Putin has said that Russia’s containment and weak policy is a long-term strategy for the West and that the sanctions have caused serious problems for the global economy. The authorities repeatedly insist that Russia will solve any problems the West creates for it.

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