Page 71 - RusRPTFeb19

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
The CBR has published its latest external debt estimates, which showed Russia’s external debt contracting by $16.5bn in the fourth quarter of 2018 and $64bn over the full year 2018, to $453bn. While some of the decline was attributable to the revaluation effect, most of it owed to the continued deleveraging of the private sector. Financial and nonfinancial corporates reduced their combined external debt by $14.9bn in the fourth quarter of 2018 and $50.4bn in 2018, while the government’s external debt declined by $2.2bn and $11.5bn over the respective periods.
The Central Bank of Russia (CBR) increased its estimate for Russia’s external debt as of October 1, 2018 to $470.2bn from an earlier estimate of $467.1bn, the website of the Central Bank of Russia reported on January 7.
In January-September 2018, the external debt of the Russian Federation decreased by $47.9bn, or 9.2%, from $518.1bn, in the first quarter it increased by $2.1bn, in the second quarter it decreased by $29.5bn, in the third - another $20.4bn.
71 RUSSIA Country Report February 2019 www.intellinews.com