KIEV, Feb. 11 – The total state debt of Ukraine as of late 2013 will expand to 38.5% of GDP, reads an offering memorandum on the issue of eurobonds by Ukraine, referring to a forecast made by the Cabinet of Ministers.

The cabinet also noted that in 2011, the state debt narrowed to 35.9% of GDP from 39.9% of GDP, and last year it grew to 36.8% of GDP.

As reported, Ukraine's total direct (state) and guaranteed debt grew by 2.8%, or by $1.747 billion, in December 2012, to $64.482 billion. In 2012, the state debt rose by 8.9%, or by $5.266 billion, from $59.216 billion.