Russian Public Debt has been increased by 4%In the first quarter of 2021 Russia’s public debt was increased by a little more than $10 bln (around 741 bln rubles) amounting to nearly 20 trillion rubles or $270 bln as was said by Accounts Chamber in his report about the execution of January-March 2021 budget.
According to the report, the first quarter of 2021 saw the increase of the Russia’ public debt by 741+ mln rubles or 4% and by the April 1, 2021, it amounted to 19,700 mln rubles, which is just 17% of the presumed GDP.
Projected Volume of GDP to be decreased to 20.4%Within the period from January to March of 2021 the Russia’ domestic debt increased by nearly 5% or by 680 bln rubles (or $9 bln), totaling about 15.500 trillion rubles and $210 bln. Thus the total volume of the public debt had a rise to around 78.5% from 80%.
As the report showed, Russia’s foreign debt had a decrease by 1.1% or $598 mln and in April amounted to $56 bln. In reference to rubles the foreign debt grew up by 1.4% within a few months after the beginning of 2021, (which is 58 billion rubles), to 4.250 trillion.
According to Russian law regulating the federal budget for 2021 the top level of public debt in reference to the projected volume of GDP will be 20.4% (in previous years it was 20.8). Once this level is reached Russia will be among the countries with lowest public debt. And as a Finance Ministry said, the level of 20% of GDP will be safe.
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