11.10.2024, 16:52
Russia's external debt has reached its minimum level for the first time since 2006
Source: OREANDA-NEWS
OREANDA-NEWS Russia's external debt has fallen below $300 billion for the first time since 2006: as of October 1, it amounted to $ 293.4 billion, having decreased by 7.7% since the beginning of this year, according to the Central Bank data.
"According to the Bank of Russia, the external debt of the Russian Federation as of October 1, 2024 amounted to 293.4 billion US dollars, having decreased by 24.5 billion US dollars, or by 7.7%, since the beginning of 2024," the report said.
This is the minimum amount of Russia's external debt since October 1, 2006, when it amounted to $269.5 billion.
In the third quarter, Russia's external debt fell by $8.5 billion, or almost 3%. This was mainly due to a drop in the liabilities of the real sector of the economy - by $ 11.1 billion at once, or by 6.9%. This reduction was the maximum for companies in a year, and the amount of debt fell to the lowest values since October 1, 2006.
In addition, the public sector also reduced its external obligations by $1.3 billion, or 4.2% in the quarter. Their debt amounted to just under $31 billion, which is the lowest since the end of 2015.
But the Central Bank and credit institutions, on the contrary, increased debt to foreigners by almost $ 4 billion, or 4.1% in July-September. As a result, it reached a maximum of $101.5 billion in two years.
"According to the Bank of Russia, the external debt of the Russian Federation as of October 1, 2024 amounted to 293.4 billion US dollars, having decreased by 24.5 billion US dollars, or by 7.7%, since the beginning of 2024," the report said.
This is the minimum amount of Russia's external debt since October 1, 2006, when it amounted to $269.5 billion.
In the third quarter, Russia's external debt fell by $8.5 billion, or almost 3%. This was mainly due to a drop in the liabilities of the real sector of the economy - by $ 11.1 billion at once, or by 6.9%. This reduction was the maximum for companies in a year, and the amount of debt fell to the lowest values since October 1, 2006.
In addition, the public sector also reduced its external obligations by $1.3 billion, or 4.2% in the quarter. Their debt amounted to just under $31 billion, which is the lowest since the end of 2015.
But the Central Bank and credit institutions, on the contrary, increased debt to foreigners by almost $ 4 billion, or 4.1% in July-September. As a result, it reached a maximum of $101.5 billion in two years.
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