At the end of last year, Russia’s total domestic and foreign public debt reached 22.8 trillion rubles. About to write Vedomosti cites a message from a representative of the Ministry of Finance.
The total amount of domestic and foreign public debt of Russia for 2022 increased to 22.8 trillion rubles compared to 20.9 trillion rubles in 2021. In total, for the entire year, 1.33 trillion rubles were spent on debt service, which is 4% of all federal budget expenditures. In 2021, 1.084 trillion rubles were spent on maintenance.
The Ministry of Finance stated that as of January 1, 2023, domestic public debt stood at 18,781 trillion rubles, and external debt – 4,039 trillion rubles.
At the end of November, Russian Prime Minister Mikhail Mishustin knowledgeable on reducing the public debt by a quarter for the first time in nine months. According to the Prime Minister, budget revenues for the January-September 2022 period increased by 10% compared to the same period of the previous year.
Prior to this, the State Duma of Russia adopted in the second reading the draft federal budget for 2023 and the planning period 2024 and 2025. Treasury revenues for 2023 are planned to be 26.13 trillion rubles, expenses – 29,056 trillion rubles. In 2024, the federal budget should receive 27.24 trillion rubles, according to the project, in 2025 – 27.98 trillion rubles. Treasury expenditures in 2024 and 2025 will be 29.43 trillion and 29.24 trillion rubles, respectively.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.