Russia Government Debt: % of GDP, 2011 – 2024 (2024)

FAQs

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

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.

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

GDP per Capita PPP in Russia is expected to reach 28137.00 USD by the end of 2024, according to Trading Economics global macro models and analysts expectations.

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.

Russia GDP: $3.939 Trillion.

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.

At the top is Japan, whose national debt has remained above 100% of its GDP for two decades, reaching 255% in 2023.

Public Debt in Ukraine

Public debt averaged 64.0% of GDP in the decade to 2022, above the average for Eastern Europe of 32.5% of GDP. Public debt in Ukraine was 78.5% of GDP in 2022.

It has enormous natural resources, particularly oil and natural gas. In 2023, it was the world's 11th-largest economy by nominal GDP, 6th-largest by purchasing power parity (PPP) according to IMF, and 5th-largest according to World Bank.

Russia, with its huge proven oil and natural gas reserves, will continue to remain among the ten largest economies in the world by 2050. A status it still holds currently. In 2050, Russia is projected to be the sixth largest economy in the world with a GDP at PPP of $7.13 trillion.

What is the inflation rate in Russia in 2024? ›

Incomes, partially driven by high government spending and the tight labour market, are seen increasing 5.2% in 2024, up from 2.7% growth in the previous forecast. The ministry expects inflation to end the year at 5.1%, above the previous estimate and the central bank's 4% target.

Russia recorded a Government Debt to GDP of 17.20 percent of the country's Gross Domestic Product in 2022.

The total external debt is at about USD 513 billion (33% of GDP), government's internal debt at 115 billion (about 7 % of GDP), and the internal non-government debt is at a 835 billion (about 55% of GDP). The current currency reserves of Russia stand at 456 billion, which covers 89% of all our external debt.

The National Debt of Russia

However, only the debt of Russia's federal government qualifies as the country's “national debt”. According to the IMF, Russia's national debt-to-GDP ratio stood at 18.9% at the end of 2020, making Russia one of the least indebted countries in the world.

You may unsubscribe at any time. In 2025, according to the IMF data, Russia's share of global GDP will begin to shrink, falling to 2.908 percent. In 2026, its GDP share is expected to be 2.855 percent, and then 2.803 and 2.754 percent in the following two years.

Listen to This Article. Russia's central bank held its key interest rate at 16% for the third meeting running on Friday, but raised its inflation forecast for 2024, acknowledging for the first time that it may struggle to reach its 4% target this year.