Page 51 - RusRPTOct19

6.2 Debt
Russia - External debt 2012 2013 2014 2015 2016 2017 Jan-Jun ‘18
Budget: external debt (USD bn)
2,363.52 2,844.56 2,729.43 2,169.01 2,073.22 2,096.24 1,005.41
Budget: external debt (% GDP)
29.02 31.73 29.07 37.89 39.83 32.84 /
source: CEIC, CBR
Russia can cover its external debt dollar-for-dollar with cash as Russia’s gross international reserves (GIR) overtook the external debt for the first time ever in February.
Now the country has gone to the next level. Russia’s net public debt has fallen to zero for the first time since the introduction of sanctions and the collapse of oil prices, reports RBC in September.
Public debt is the broadest definition of debt and includes the more narrowly defined external debt, as well as the domestic debts of the government, the regions and the municipalities. As of August 1 the total state debt was RUB16.2 trillion ($248bn) or 15% of GDP and equivalent to what the government takes in each year in total as taxes. The amount the state has in cash in deposits with the central bank was RUB17.6 trillion on the same date, or 16.2% of GDP.
51 RUSSIA Country Report October 2019 ww.intellinews.com