The size of Russia’s public debt remains at a safe level – below 20% of GDP. About this on Thursday, August 13, the head of the Ministry of Finance of the Russian Federation Anton Siluanov.
He acknowledged that the reduction in federal budget revenues and the subsequent increase in public debt are associated with the restriction of business activity, lower oil prices and financing of programs to support citizens and businesses affected by the coronavirus.
“Such a situation is common practice and is inherent in the absolute majority of countries in the world, where the level of debt exceeds the assets of governments at times, or even dozens of times,” Siluanov quoted TASS as saying.
He assured that the level of public debt remains at a safe level – below 20% of GDP – and remains one of the lowest in the world. In addition, according to him, macroeconomic indicators in Russia demonstrate high stability of the economy and financial system.
“This assessment is shared by both international investors and rating agencies, which have recently confirmed Russia’s credit rating at the investment level,” the minister added.
Earlier on the same day, it became known that Russia’s net national debt again exceeded liquid reserves and reached 1.55 trillion rubles on July 1, Gazeta.ru writes.
In turn, the head of the analytical department of AMarkets Artem Deev, in a conversation with Izvestia, noted that the changed volume of the state debt indicates that the crisis has hit the country’s economy.