KIEV, March 19 – The size of Ukraine's gross foreign debt expanded by 25.6%, or $21 billion, in 2008, to $103.2 billion, the National Bank of Ukraine said on its official Web site.

Ukraine's gross foreign debt by the beginning of 2009 accounted for 56.7% of the country's GDP, whereas by the beginning of 2008, it was 60.2% of GDP.

"A steady trend towards foreign debt accumulation in the banking and other sectors of the economy ($23.5 billion), which was typical for the first three quarters of the year changed in the last quarter… October through December 2008 the debt in the banking sector shrank by $2.7 billion and in other sectors of the economy by $3.9 billion, while the state debt considerably grew (by $5 billion)," reads the NBU report.