Russia Public Debt (2024)

FAQs

Russia Public Debt? ›

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.

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.

The external debt of the Russian Federation as of December 31, 2023 amounted to $316.8 billion, having decreased by $68.2 billion, or by 17.7%, since the end of 2022.

Ukraine National Government Debt reached 135.2 USD bn in Feb 2024, compared with 136.1 USD bn in the previous month. Ukraine National Government Debt data is updated monthly, available from Dec 2004 to Feb 2024.

For decades, Russia ran highly orthodox and prudent macroeconomic policies, accumulating wealth amid extremely low debt levels.

Nearly half of all US foreign-owned debt comes from five countries. All values are adjusted to 2023 dollars. As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).

The United States is the undisputed heavyweight when it comes to the economies of the world. America's gross domestic product in 2022 was more than 40% greater than that of China, the world No. 2. Even more striking, U.S. GDP was over five times that of the next two largest economies, Japan and Germany.

Russia owns less than 2.5 $Billion in US Treasury notes, a trifling amount. Russia does not “own” US debt. It just owns bonds that are not callable and it takes its interest payments as agreed. Russia has sold almost 100 $Billion in US bonds to reduce its vulnerability to US sanctions.

What happens if Russia goes default? ›

What happens if Russia doesn't pay at all? A debt default could drive Russia's few remaining foreign investors out of the country, further isolating it. If the government defaults, companies may follow.

Net debt (gross debt minus financial assets) of the Canadian general government decreased by $80.8 billion to $1,356.0 billion in 2022. The federal government's net debt declined by $31.7 billion (-3. 5%) and totalled $876.4 billion, while PTLGs' net debt decreased by $49.1 billion (-9. 3%) to $479.6 billion.

The $34 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. Learn more about different ways to measure our national debt.

According to the Bank of Russia's estimate, external debt of the Russian Federation as of March 31, 2024 totaled $304.0 billion, having decreased by $12.8 billion, or by 4.1%, since the end of 2023.

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.

Based on the data available, the estimations showed that Belarus owed the highest value of loans to Russia as of June 1, 2019, which was worth 7.6 billion U.S. dollars. Venezuela's debt to Russia was calculated at 3.5 billion U.S. dollars, which was five times higher than the value of the loan borrowed by Serbia.

The $34 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. Learn more about different ways to measure our national debt.

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

The United States has the world's highest national debt with $30.1 trillion owed to creditors as of the first quarter of 2023. Washington's debt now stands at $31.4 trillion, raising further concerns about US government spending and borrowing costs.