Russia Debt to GDP Ratio 1960-2024 (2024)

FAQs

What is Russia's debt to GDP in 2024? ›

Government Debt to GDP in Russia is expected to reach 18.10 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations.

Public debt in Russia averaged 15.4% of GDP in the decade to 2022, below the average of 32.5% of GDP for Eastern Europe. Public debt in Russia was 18.9% of GDP in 2022.

GDP levels in 1950 (in billion 1990 dollars) were 510 (100%) in the Soviet Union, 161 (100%) in Japan and 1,456 (100%) in the United States. By 1965, the corresponding values were 1,011 (198%), 587 (365%) and 2,607 (179%).

Overall, the combined federal-pro- vincial debt-to-GDP ratio is projected to climb from 53.1% in 2007/08 to 76.2% in 2023/24. Data indicate that seven provinces are likely to see an increase in their ratio of debt to GDP between 2007/08 and 2023/24 (see table 2).

Where does Russia rank in the world by GDP? Russia ranks 12th in the world by GDP for 2024.

GDP in Mexico is offically estimated to be $1.310 Trillion US dollars at the end of 2023. The economy of Mexico is offically reported as having a debt-to-GDP ratio of 58.7%, indicating Mexico's debt level is $755 Billion.

As of March 2023, the Japanese public debt is estimated to be approximately 9.2 trillion US dollars (1.30 quadrillion yen), or 263% of GDP, and is the highest of any developed nation. 43.3% of this debt is held by the Bank of Japan.

The Soviet Union emerged as the world's largest national economy by 1990, when the nominal GDP reached $8.2 trillion, 37% more than that of the economy of the United States' $5.98 trillion in 1990.

What is the average salary in Russia? ›

What is the average salary in Russia? Based on June 2023 currency rates, the average annual salary in Russia is around 1,240,000 RUB, or approximately USD 14,771. It should be noted that this figure varies greatly based on factors such as geography, industry, and employment role.

The decline of the Soviet economy is sometimes explained by exoge- nous shocks, like the troubles in the oil industry, the coal strike in the first quarter of 1990, the collapse of trade with Eastern Europe following its liberation, the plant shutdowns for environmental reasons, and the regional frictions in the USSR.

By the numbers: In the last century, the U.S. federal debt has risen from an inflation-adjusted $403 billion in 1923 to $33.17 trillion in 2023. The U.S. debt-to-GDP ratio surpassed 100% in 2013 and currently stands at 123%, according to the International Monetary Fund (IMF).

U.S. publicly held debt 2013-2024

In April 2024, the public debt of the United States was around 34.62 trillion U.S. dollars, more than two trillion more than in July when it was around 32.6 trillion U.S. dollars.

While robust growth is predicted for this year, helped by the Kremlin earmarking 10.8 trillion rubles ($115 billion) for defense spending, Russia's GDP growth is expected to dip sharply from 3.2 percent in 2024 to 1.8 percent in 2025, according to the IMF.

Russia National Government Debt reached 281.6 USD bn in Feb 2024, compared with 287.8 USD bn in the previous month.

Debt held by the public is projected to grow to $25,910 billion (98.4 percent of GDP) at the end of 2023 and $27,783 billion (102.0 percent of GDP) at the end of 2024. After 2024, debt held by the public as a percent of GDP is projected to gradually increase, reach- ing 109.8 percent in 2033.

“China's economic growth is projected to remain resilient at 5 percent in 2024 and slow to 4.5 percent in 2025. Thesereflect upward revisions of 0.4 percentage points for both years compared to the April WEO projections, driven by strong Q1 GDP data and recent policy measures.