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 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.

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 2022, Russia's estimated level of national debt reached about 18.89 percent of the GDP, ranking 16th of the countries with the lowest national debt.

8. Russia – Country GDP $2.24 trillion.

The 2024 budget expects revenues of 35 trillion rubles ($349 billion) with expenditure of 36.6 trillion, based on a Urals oil forecast of $71.30 per barrel, a 90.1 rubles to 1 USD exchange rate and inflation of 4.5%. Defence spending will double to 10.78 trillion, 29.4% of expenditure.

After the tenth consecutive increasing year, the national debt is estimated to reach 580.55 billion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.

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

On the other end of the spectrum, Brunei has the lowest debt to GDP ratio at 1.90%, followed by the Cayman Islands at 4.50%, Kuwait at 7.10%, and Afghanistan at 7.40%. There are regional trends when it comes to debt to GDP ratios.

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.

What is the debt structure of Russia? ›

Does Russia still own U.S. Treasury bonds? How much U.S. debt has Russia owned in the past and did the overnight repo market & U.S. bond market nearly collapse in Sep. 2019 due to Russia & China selling their Treasury bonds? According to the US Treasury, Russian ownership of US Treasuries was $2.1 Billion in Nov 2022.

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.

As a result, the IMF now forecasts that Russia's economy will grow up to 2.6 percent in 2024—a 1.6 percentage point increase from the IMF's original projection in October 2023. On the one hand, sanctions clearly limit Russia's economic development.

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.

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.

First, we project China's economy to grow by 5 percent in 2024 and 4.5 percent in 2025. These reflect upward revisions of 0.4 percentage points for both the years compared to the April world economic outlook projections, and it's driven by a strong first quarter GDP growth in 2024 and recent policy measures.