Page 73 - RusRPTDec22

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
While Russian public debt is seen at 17% of GDP next year, low by international standards, servicing costs will increase towards 6.8% of total spending in 2025 from 5.1% now, exceeding funding for health and education.
Russia's record debt issuance indicates expectation of fiscal instability. Russia’s declared defence spending for 2023 is now planned at a more than 40% increase on the preliminary 2023 budget announced in 2021.
73 RUSSIA Country Report December 2022 www.intellinews.com