In the January-September period of this year, Russia’s public debt increased by 11.6%, reaching 17% of gross domestic product (GDP). With the help of borrowed funds, the country was able to halve the federal budget deficit. In this respect he is writing RIA News.
Russian officials emphasize that public debt has not yet exceeded the safe level of 20 percent of GDP. Additionally, Russia is on the list of countries with the lowest public debt. For example, in the USA and Italy this rate is over 100%, and in Japan it is 260%.
Hoxha Kava, senior lecturer at the Department of Economic Theory at Plekhanov Russian University of Economics, said that despite unprecedented pressure from unfriendly countries, the Russian government is financing important projects, providing support to various sectors of the economy and maintaining social programs for the population. . According to the economist, this will have a cumulative effect on economic development.
In turn, Alexander Timofeev, Associate Professor of the Department of Economics at the Russian University of Economics, is confident that the moderate growth in the public debt of the Russian Federation is due to the low budget deficit. If the deficit were 10-15 percent (as in Japan or Singapore), Russia would be at risk.
On November 17, the US Treasury published statistics showing that the volume of Russian investments in American government bonds more than doubled during the month: from $31 million in August to $73 million in September. The Central Bank of the Russian Federation announced that it did not purchase these securities.
Previously Siluanov statedRussia’s 2023 budget deficit is expected to be 1% of GDP.
Source: Gazeta
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