How much is Russia in debt?
Russia National Government Debt reached 287.8 USD bn in Jan 2024, compared with 285.4 USD bn in the previous month. Russia National Government Debt data is updated monthly, available from May 2009 to Jan 2024. The data reached an all-time high of 384.2 USD bn in Jun 2022 and a record low of 86.1 USD bn in May 2009.
- Japan. Japan has the highest percentage of national debt in the world at 259.43% of its annual GDP. ...
- United States. ...
- China. ...
- Russia.
In the latest reports, Russia National Government Debt reached 285.4 USD bn in Dec 2023. The country's Nominal GDP reached 494.7 USD bn in Mar 2023.
Russia divested from all US bond instruments, the only debts the Federal government has, and still owes the US and other investors nearly 300 billion US Dollars. The national debt in Russia was forecast to increase between 2023 and 2028 by in total 16.1 billion U.S.
Estimate of External Debt of the Russian Federation as of December 31, 2023. According to the Bank of Russia's estimate, external debt of the Russian Federation as of December 31, 2023 totaled $326.6 billion, having decreased by $57.0 billion, or by 14.9%, since the end of 2022.
At the top is Japan, whose national debt has remained above 100% of its GDP for two decades, reaching 255% in 2023.
| Statistics | |
|---|---|
| Population | 147,190,000 (late 2021 census) |
| GDP | $1.862 trillion (nominal; 2023) $5.056 trillion (PPP; 2023) |
| GDP rank | 11th (nominal; 2023) 5th/6th (PPP; 2023) |
| GDP growth | −2.1% (2022) 2.2% (2023) 1.1% (2024) |
Because of its recent economic boom. Reduce the debt, or increase the GDP. Russia did the latter when it experienced a massive economic boom from 1999-2008. Normal economic growth is 3%, and borrowing usually keeps pace with this rate so the debt/GDP ratio stays about the same.
The $34 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts.
All in all, our findings cast doubt on the common narrative that the US 'grew its way' out of its WWII debt. Over the 76 years from 1946 to 2022, economic growth without primary surpluses or interest-rate distortions would have reduced the debt/GDP ratio by only 22 percentage points, from 106% to 84%.
Does China owe the US money?
Among other countries, Japan and China have continued to be the top owners of US debt during the last two decades. Since the dollar is a strong currency that is accepted globally, holding a substantial amount of US debt can be beneficial.
Many people believe that much of the U.S. national debt is owed to foreign countries like China and Japan, but the truth is that most of it is owed to Social Security and pension funds right here in the U.S. This means that U.S. citizens own most of the national debt.
In 2023, aggregate local government debt had risen to 92 trillion yuan ($12.58 trillion) and the central government of People's Republic of China ordered its banks to roll over debts in a debt-restructuring.
Exposure to Russian debt was highest in Italy and France, where upwards of $25 billion was owed each at the end of the third quarter of 2021. In Austria and the U.S., exposure stood at $17.5 billion and $14.7 billion, respectively.
Net debt (gross debt minus financial assets) of the Canadian general government decreased by $80.8 billion to $1,356.0 billion in 2022. The federal government's net debt declined by $31.7 billion (-3. 5%) and totalled $876.4 billion, while PTLGs' net debt decreased by $49.1 billion (-9. 3%) to $479.6 billion.
As a result, totals from January 2023 are lower than reported. As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).
The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).
Years of elevated budget deficits, exacerbated by massive federal spending during the COVID-19 pandemic, have taken the debt to historic levels: totaling more than $26 trillion in 2023, U.S. federal government debt is now at its highest percentage of gross domestic product (GDP) since World War II.
- Tax hikes alone are rarely enough to stimulate the economy and pay down debt.
- Governments often issue debt in the form of bonds to raise money.
- Spending cuts and tax hikes combined have helped lower the deficit.
- Bailouts and debt defaults have disadvantages but can help a government solve a debt problem.
Is there a country with 0 debt?
Brunei: Brunei is a small, wealthy country located on the island of Borneo in Southeast Asia. It is known for its abundant oil and gas reserves, which provide significant revenue to the government. Brunei has no external debt due to its substantial income from oil and gas exports.
| Country | Metric Tons of Gold in Reserve |
|---|---|
| Germany | 3,355 |
| Italy | 2,452 |
| France | 2,437 |
| Russia | 2,299 |
China dominates every aspect of the bilateral economic relationship, as a net exporter, net creditor and net investor, despite Russia long being a richer country than China. China and Russia are increasingly viewed as important political and economic partners, notwithstanding their past differences.
In essence a one US dollar is worth roughly 73.67 Russian Ruble so assuming we have a 100 dollar note it will be estimated roughly at 7,367 Russian Ruble.
The Russian economy is shrinking
It is estimated that in 2022, Russia's gross domestic product (GDP) dropped by 2.1%. Russia's economy may continue to shrink in 2023. Its GDP is forecast to decline by 2.5% in the worst-case scenario (OECD) or by 0.2% according to the World Bank.
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