MOSCOW (Pakistan Point News / Sputnik - 24th February, 2021) The Russian Finance Ministry said Wednesday it was not planning to increase the government debt in the next few year at the same rate as it did in 2020.
Earlier in the day, the Accounts Chamber said that the country's sovereign debt rose by 5.4 trillion rubles ($73,3 billion) to 18.986 trillion rubles (17.8% of GDP) last year.
"The year was extraordinary in terms of state loans, so there are no plans to continue increasing the government debt at the same rate in the years to come," the press service of the ministry said.
The ministry expects the government debt to amount to 20.4 percent of the GDP in 2021, 20.8 percent of GDP in 2022, 21.4 percent of the GDP in 2023.
"At this level, Russia will still be among the countries with the lowest government debt burden, so a level that is close to 20 percent of the GDP appears to be safe," the ministry said.
