According to Sputnik calculations, based on the figures provided by the Central Bank of the Russian Federation (Bank of Russia), the second quarter of 2023 saw Russia’s foreign debt-to-GDP dip below 15%.
The indicator has been on a steady decline in recent years. It fell to 31% in 2020, 26.2% at the end of 2021, and just 16.6% last year. The first quarter of 2023 saw a modest decline to 15.45%.
"In the second quarter of 2023, debt obligations continued to decline, reaching a total of 14.96%," the calculations show.
At the end of June 2023, gross external financial debt, both government and corporate, was estimated at $343.4 billion.
Bank of Russia has also published data on external debt per capita in the second quarter of 2023. According to estimates, the figure decreased by 4% down to $2,300. This is the best indicator since 2006, when it was $2,200.