During the first nine months of the year, Russia’s public debt rose by 11.6 percent, reaching 17 percent of the nation’s gross domestic product. With borrowed resources, the state managed to cut the federal budget deficit by half. This outline reflects assessments published by RIA News. In context, officials stress that the debt load has not yet crossed a safeguard threshold of 20 percent of GDP, and Russia remains among countries with comparatively low public debt levels. By contrast, the United States and Italy report debt levels substantially above 100 percent, while Japan carries a debt burden around 260 percent of GDP. The narrative emphasizes that the debt level remains within a controlled range for now, and such a stance is presented as supportive of ongoing economic operations.
Hoxha Kava, a senior lecturer in the Economic Theory Department at the Plekhanov Russian University of Economics, notes that despite intense pressure from unfriendly nations, the Russian government continues financing key projects, sustaining support across various sectors of the economy, and preserving social programs for citizens. The economist points to a cumulative positive effect on long-term economic development as these measures accumulate over time. The observations are reported in association with official economic commentary and institutional analysis.
Alexander Timofeev, Associate Professor in the Economics Department at the Russian University of Economics, contends that moderate growth in Russia’s public debt is tied to the relatively low budget deficit. He argues that a deficit closer to 10–15 percent, akin to rates seen in Japan or Singapore, could place Russia at risk while the current path helps maintain macroeconomic stability. This perspective reflects ongoing debates about fiscal policy and debt management within the country.
New figures from the US Treasury indicate that Russian holdings in American government bonds more than doubled over a recent month, rising from 31 million dollars in August to 73 million in September. The Central Bank of Russia clarified that it did not purchase these securities during the period in question. The shift is cited as part of broader observations on cross-border investment flows and the evolving relationship between Russian financial activity and U.S. markets.
Earlier statements from Siluanov highlighted that Russia’s 2023 budget deficit is anticipated to be about 1 percent of GDP, a projection that informs the fiscal stance and serves as a reference point in assessments of the country’s debt trajectory. These assessments come within the wider dialogue on how Russia balances growth objectives with prudent fiscal management in a challenging international environment.