The Ministry of Finance assessed the level of Russia's public debt

MOSCOW, February 24 – RIA Novosti. The Ministry of Finance of the Russian Federation in the coming years does not plan to increase the national debt at the same pace as in 2020, the level close to 20% of GDP is safe, the ministry's press service said.

Earlier on Wednesday, the Accounts Chamber reported that Russia's national debt for 2020 increased by 5.4 trillion rubles and amounted to 18.986 trillion rubles, or 17.8% of GDP.

“The volume of public debt in 2020 increased by 5.4 trillion rubles, however, its indicators did not exceed a safe level. This year was extraordinary in terms of the volume of public borrowing, so the increase in public debt at the same pace is not planned in the coming years,” said in a message from the Ministry of Finance.

The ministry noted that in accordance with the law on the federal budget, the maximum level of public debt in relation to the projected volume of GDP in 2021 will be 20.4% (in 2022 – 20.8%, in 2023 – 21.4%).

“Upon reaching this level, Russia will continue to be among the countries with the lowest debt burden of public debt, so levels close to 20% of GDP seem safe,” the message says.

Author: wedocount

Leave a Reply

Your email address will not be published. Required fields are marked *