KIEV, March 21 – Ukraine's gross foreign debt in 2011 expanded by 7.6% or by $8.89 billion, to $126.236 billion, the National Bank of Ukraine reported.

"In 2011 Ukraine's gross foreign debt narrowed to 76.6% of GDP, compared to 85% as of early 2011 and as of January 1, 2012 it came to $126.2 billion," reads the report.

The NBU said that short-term remaining maturity foreign debt reached $56.8 billion, a 12.8% rise year-over-year.