Russia's external debt is falling rapidly
Russia's external debt has decreased by 57 billion dollars since the beginning of last year, falling to 326.6 billion dollars. This marks the largest decline in Russia's external debt in the last year.
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According to data from the Central Bank of Russia, the Russian Federation's external debt fell by 14.9 percent to 326.6 billion dollars as of January 1.
According to the IMF's October forecast, Russia's total public debt is expected to reach 21.2 percent of GDP in 2023, and this ratio is projected to fall to 18.2 percent of GDP by 2028.
The Russian Ministry of Finance had projected a 14 percent increase in expenditures for the repayment of state debts in 2023 back in December.
In its statement, the Central Bank said, "The main contribution was provided by the reduction of liabilities related to loans borrowed by other sectors, including within the framework of direct investment relationships." It was also stated that public debt is falling rapidly and that this situation stems from "planned payments and a decrease in the volume of Russian government bonds held by non-residents."
Russian President Vladimir Putin stated at a press conference held on December 14 that Russian companies were paying off their external debts ahead of schedule.