The state debt of Russia from January to June of this year increased by 1.5 trillion, or 7.8%, to 20.4 trillion rubles and reached 17.7% of GDP, according to the report of the Accounts Chamber.
The national debt in January-June was 1.4 times less a year earlier – 14.7 trillion rubles, and as of July 1, 2019 – 13.5 trillion rubles. Domestic debt has grown since the beginning of the year from 14.8 trillion rubles, or 9.7%, to 16.2 trillion rubles, Russian media wrote.
Over the year, the figure has grown by a third, from 11.2 trillion rubles. The external debt has grown by 3% since the beginning of the year to $ 58.5 billion.
The volume of the National Wealth Fund (NWF) in ruble terms increased by 28.9 billion rubles, or 0.2%, to 13.6 trillion rubles, and reached 11.7% of GDP.
The amount of the international reserves of the Russian Federation, which is supervised by the Central Bank of the Russian Federation, has grown since the beginning of the year from 590 to 593.8 billion dollars, or up to 44 trillion rubles in recalculation. A year earlier, at the end of summer, the Central Bank’s reserves were also $ 590 million.
In 2020, Russia’s public debt grew 1.4 times, or 5.4 trillion to 19 trillion rubles, or 17.8% of GDP. At the same time, the US and EU national debt reached 100% of GDP.
Countries during the pandemic increased last year and continue to increase borrowing now, placing bonds to channel money to support the economy and the population.