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Russia’s public debt totals $268 bln

It amounted to 17% of projected GDP
Russian Accounts Chamber Mikhail Japaridze/TASS
Russian Accounts Chamber
© Mikhail Japaridze/TASS

MOSCOW, June 1. /TASS/. Russia’s public debt increased by 741.3 bln rubles ($10.1 bln) for the first quarter of 2021 and amounted to 19.7 trillion rubles ($268 bln), the Accounts Chamber said in its report on execution of the federal budget for January-March 2021. 

"According to preliminary data, in the first quarter of 2021, the public debt of the Russian Federation increased by 741,290.4 mln rubles or 3.9%, and as of April 1, 2021, amounted to 19,681,692.6 mln rubles. (17% of projected GDP)," the report says.

In January-March, the volume of Russia’s domestic debt increased by 4.6% or by 683 bln rubles ($9.3 bln), up to 15.434 trillion rubles ($210 bln). At the same time, its share in the total volume of the public debt increased to 78.4% from 77.9%.

According to the report, Russia’s foreign debt decreased by 1.1% ($598.3 mln) and amounted to $56.1 bln as of April 1. However, in ruble terms, the foreign debt has grown by 1.4% since the beginning of the year (58.3 billion rubles) to 4.247 trillion rubles.

In accordance with the law on the federal budget for 2021, the maximum level of public debt in relation to the projected volume of GDP will be 20.4% (in 2022 - 20.8%, in 2023 - 21.4%). When this level is reached, Russia will continue to be among the countries with the lowest debt burden of public debt, so levels close to 20% of GDP seem safe, the Finance Ministry noted.