Mishustin announced a quarter reduction in the amount of public debt in January-September

Russia’s public debt fell by more than a quarter in the first nine months of this year, informed Prime Minister Mikhail Mishustin at a meeting on the execution of the federal budget.

“I would like to note separately that the volume of public external debt for the reporting period was reduced by more than a quarter, which reduces dependence on foreign capital and ensures a balanced budget system,” he said.

Mishustin also noted that federal budget revenues grew by 10% over the nine months, exceeding expectations. Expenses also increased – by 5.5%, including due to the fulfillment of social obligations of the state to citizens. According to Mishustin, the assistance provided has become more targeted.

The main budget indicators remain balanced despite external challenges, the prime minister noted. Thanks to the decisions of the president, it was possible to prevent the development of events according to a negative scenario, he stressed.

How wrote earlier than Vedomosti, the Ministry of Finance intends to keep the ratio of Russia’s public debt to GDP until 2030 at a level not exceeding 20%. According to the draft federal budget for the next three years, in 2025 the volume of public debt will reach 29.9 trillion rubles, or 17.5% of GDP (including domestic – 25 trillion, external – 4.9 trillion), against 20.9 trillion rubles, or 16% of GDP (internal – 16.5 trillion, external – 4.4 trillion), according to the results of 2021

In 2023, public debt is expected to reach 25.4 trillion, or 16.9% of GDP (domestic – 20.7 trillion, external – 4.7 trillion), in 2024 – 27.7 trillion, or 17.3% GDP (internal – 22.8 trillion, external – 4.9 trillion). The share of domestic public debt in the total volume in 2023 should be 81.6%, in 2024 – 82.4%, in 2025 – 83.5%.

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