Wed Sep 25 08:33:50 UTC 2024: ## Russia’s Public Debt to Rise Marginally, Reaching 18% of GDP by 2027

**Moscow, Russia** – Russia’s state debt is projected to increase slightly, reaching 18% of GDP by 2027, as the government continues to borrow funds to cover budget shortfalls. This was announced by the Ministry of Finance on Tuesday.

The draft budget outlines plans to borrow 4.8 trillion rubles ($51.5 billion) in 2025, 5.1 trillion rubles ($54.9 billion) in 2026, and 5.3 trillion rubles ($57 billion) in 2027. Despite this projected increase, the ministry maintains that the national debt remains at a “safe” level, below 20% of GDP.

The anticipated fiscal deficit is estimated to be 1% of GDP annually over the next three years. This is significantly lower than the debt levels of other major economies, such as the UK (100%), the US (over 120%), and Japan (260%).

Finance Minister Anton Siluanov emphasized the government’s focus on social support, defense, and technological advancement in the upcoming budget. He also highlighted the allocation of over 3 trillion rubles ($32.3 billion) annually to support Russian regions.

Economists attribute Russia’s moderate public debt growth to a low budget deficit and the country’s continued investment in key projects and industries despite Western sanctions.

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