Russia’s public debt increased by RUB 5.4 trillion in 2020

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AK&M 25 February 2021 14:45

Russia's public debt increased by RUB 5.4 trillion in 2020, according to a statement by the Ministry of Finance.

The public debt has not yet exceeded the safe level, the ministry notes. 2020 was an extraordinary year in terms of government borrowing, with no plans to continue raising public debt at the same pace in years to come, the Ministry of Finance emphasizes.

According to the 2021 federal budget, the maximum public debt to projected GDP ratio will be 20.4% in 2021, 20.8% in 2022, 21.4% in 2023.