Ukraine's public debt swelled by 1.04 percent in September to reach $69.06 billion, the Finance Ministry announced Friday.

Since the beginning of this year through late September, the debt increased by 7.08 percent or $4.565 billion, the ministry's press service said in a statement.

According to local analysts, the drop in Ukraine's industrial output and rising budget deficit are key factors to national debt increase.

The huge debt has already put pressure on Ukraine's foreign exchange reserves, which stood at their record low of $21.64 billion in late September.

Ukraine's debt was projected to stay at 30 percent of the country's entire economic output at the end of 2013.

Last year, Ukraine's debt rose 9.1 percent year-on-year to $64.495 billion.