Russia's debt hits 35.1 trillion rubles but stays G20's lowest in 2025
Russia recorded the lowest government debt level among G20 nations in 2025, at 18% of GDP, according to data from the International Monetary Fund reviewed by RIA Novosti. Of this total, roughly 16.5% is attributed to the federal government, with the remainder held by regional authorities.
The report indicates that Russia's national debt stood at 18% of GDP by the end of 2025—the lowest in the Group of Twenty. Most of the debt burden falls on the federal budget, while the rest is distributed across regional budgets.
Among other G20 members, Turkey ranks second with a debt-to-GDP ratio of 23.5%, followed by Saudi Arabia at 31.7%. Indonesia's government debt stands at 41% of GDP, while Australia's reaches 51%. Several major economies have surpassed the 60% threshold—often considered a conditional benchmark for sustainable debt levels—including Mexico (61.8%) and Germany (62.9%).
Debt exceeding 100% of GDP has been recorded in Italy, France, Canada, the United Kingdom, and Brazil. Japan remains the most indebted nation, with its debt reaching 206.5% of GDP—nearly double the size of its economy. The United States, meanwhile, has a debt level of 123.9% of GDP.
Data from Russia's Accounts Chamber shows that the country's national debt grew by 6.1 trillion rubles (+21%) in 2025, totaling 35.1 trillion rubles. Domestic debt rose to 30.7 trillion rubles, while external debt, in ruble terms, declined to 4.5 trillion rubles. Servicing the debt cost 3.2 trillion rubles. The report also notes that as of January 1, 2026, Russia had not exceeded its established limits for either domestic or foreign debt.
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