Russia National Government Debt, 2009 – 2024 (2024)

FAQs

Russia National Government Debt, 2009 – 2024? ›

Russia National Government Debt reached 281.6 USD bn in Feb 2024, compared with 287.8 USD bn in the previous month. Russia National Government Debt data is updated monthly, available from May 2009 to Feb 2024. The data reached an all-time high of 384.2 USD bn in Jun 2022 and a record low of 86.1 USD bn in May 2009.

In the latest reports, Russia National Government Debt reached 281.6 USD bn in Feb 2024. The country's Nominal GDP reached 494.7 USD bn in Mar 2023.

By the end of 1990, the gross hard-currency debt of the Soviet Union was some $55 billion. Soviet net debt (gross debt minus hard-currency deposits in Western banks) was about $46 bil- lion. During the first quarter of 1990, both net and gross debts continued to expand rapidly.

Public debt in Russia was 18.9% of GDP in 2022. For more public debt information, visit our dedicated page.

Yes, but it is much smaller compared to the Russian economy than America's is to the American economy. Russia's debt-to-GDP is 17.20%. To put that in perspective, America would have to have a national debt of $4 trillion or so for the two nations to be somewhat comparable.

The most recent figures from the Bank for International Settlements, which cover up to the end of 2021, show French and Italian banks have the most exposure to Russia, with outstanding claims of more than US$20 billion, while Austrian banks have US$17.5 billion in outstanding claims on Russian debt.

Russia paid but not nearly as generously as the descendants of French bond buyers hoped. By August 21, 2006, all the Soviet era debts to the west are considered to have been paid off by Russian Federation.

Who owes the US money? ›

In total, other territories hold about $7.4 trillion in U.S. debt. Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion. In isolation, this $7.4 trillion amount is a lot, said Scott Morris, a senior fellow at the Center for Global Development.

In fact, very much like Norway, Singapore has more assets than debt. Which means that de facto the Singaporean government has no net debt. And what is more impressive, without the vast natural resources Singapore has. This is a privileged situation to be in, but Singaporeans have earned that privilege.

Given the significance of oil in today's world, Saudi Arabia produces enough oil and earns enough revenue to maintain a high GDP and additionally refrain from incurring debt.

One of the main culprits is consistently overspending. When the federal government spends more than its budget, it creates a deficit. In the fiscal year of 2023, it spent about $381 billion more than it collected in revenues. To pay that deficit, the government borrows money.

Russia's Economy Ministry raised its 2024 growth forecast despite mounting sanctions over President Vladimir Putin's war in Ukraine. Gross domestic product will expand by 2.8% this year, Economy Minister Maxim Reshetnikov told a government meeting on Tuesday.

National debt in Russia

The highest level of the last years at 439 billion US Dollar was reached in 2022. Based on the number of inhabitants, this is a debt of 3,044 USD per person. For comparison, the average debt per person in the same year in the European Union was 32,825 USD.

Venezuela owes Russia $3.5 billion, RBC reported. Cuba has borrowed $3.2 billion from Russia, followed by Bangladesh with $2 billion, Cyprus with $1.8 billion, India with $1.1 billion and Yemen with $1 billion. China, Morocco and foreign state corporations may owe Russia a further $13 billion, RBC reported.

Germany National Government Debt reached 2,901.2 USD bn in Dec 2023, compared with 2,780.7 USD bn in the previous quarter.