IMF expects Russia’s state debt to rise to 21.2% of GDP in 2023

WASHINGTON, Oct 11 (PRIME) -- Russia’s sovereign debt should rise to 21.2% of gross domestic product (GDP) in 2023 from 18.9% in 2022, the International Monetary Fund said in a report on Wednesday.

In 2024, the debt should grow to 21.8% of GDP, and then start falling gradually to 18.2% in 2028.

The world’s combined state debt should grow by 1% of the combined GDP per year to 100% of GDP until the end of the current decade, the IMF said.

According to Russia’s Audit Chamber, Russia’s debt amounted to 14.9% of GDP in 2022. The Finance Ministry expects it to rise to 17.6% in 2023, while the draft federal budget puts debt at 18.1% in 2024, 18.8% in 2025, and 19.8% in 2026.

End