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Russia’s national debt to grow slightly – finance minister Russia’s national debt to grow – finance minister
(31 minutes later)
State borrowing is expected to reach 18% of GDP by 2027State borrowing is expected to reach 18% of GDP by 2027
Russia’s state debt is expected to grow marginally and reach 18% of gross domestic product (GDP) as the government continues to borrow funds to plug a budget gap, the finance ministry said on Tuesday.Russia’s state debt is expected to grow marginally and reach 18% of gross domestic product (GDP) as the government continues to borrow funds to plug a budget gap, the finance ministry said on Tuesday.
According to the draft budget, state borrowing will amount to 4.8 trillion rubles ($51.5 billion) next year, 5.1 trillion ($54.9 billion) in 2026, and 5.3 trillion ($57 billion) in 2027. By the end of 2027, public debt will grow to 18% of GDP from 15% of GDP in 2023, the report said.According to the draft budget, state borrowing will amount to 4.8 trillion rubles ($51.5 billion) next year, 5.1 trillion ($54.9 billion) in 2026, and 5.3 trillion ($57 billion) in 2027. By the end of 2027, public debt will grow to 18% of GDP from 15% of GDP in 2023, the report said.
The overall fiscal deficit is expected to stand at 1% of GDP annually (-0.5% of GDP in 2025, -0.9% of GDP in 2026, and -1.1% of GDP in 2027), according to preliminary estimates.The overall fiscal deficit is expected to stand at 1% of GDP annually (-0.5% of GDP in 2025, -0.9% of GDP in 2026, and -1.1% of GDP in 2027), according to preliminary estimates.
The ministry pointed out that, even with the slight increase, the national debt remains at an “economically safe” level of below 20% of GDP, placing Russia among the countries with the lowest level of state arrears.The ministry pointed out that, even with the slight increase, the national debt remains at an “economically safe” level of below 20% of GDP, placing Russia among the countries with the lowest level of state arrears.
By comparison, the UK’s national debt recently hit 100% of the country’s annual economic output. State debt in the US exceeds 120% of GDP, while in Japan it stands at a record 260%. By comparison, the UK’s national debt recently hit 100% of the country’s annual economic output. State debt in the US exceeds 120% of GDP, while in Japan it stands at a record 260%. 
Russian Finance Minister Anton Siluanov emphasized that the upcoming budget will focus on social support, defense, as well as on achieving leadership in technology. He also noted that over 3 trillion rubles ($32.3 billion) annually will be allocated to provide support for Russia’s regions.Russian Finance Minister Anton Siluanov emphasized that the upcoming budget will focus on social support, defense, as well as on achieving leadership in technology. He also noted that over 3 trillion rubles ($32.3 billion) annually will be allocated to provide support for Russia’s regions.
According to economists, Russia’s public debt growth remains moderate due to a low budget deficit, as the country continues to invest in major projects and industries despite unprecedented sanctions pressure from the West. According to economists, Russia’s public debt growth remains moderate due to a low budget deficit, as the country continues to invest in major projects and industries despite unprecedented sanctions pressure from the West.