Russia Cuts Government Debt-to-GDP Ratio Despite Higher External Debt

As of January 1, 2026, Russia's external debt increased by nearly 30 billion US dollars compared with the previous year, according to the press service of the Central Bank of Russia. In annual terms, the country's external debt grew by 10.4 percent, reaching 319.8 billion US dollars. "The dynamics of the indicator were driven primarily by the positive revaluation of liabilities of other sectors and the banking system as a result of the strengthening of the ruble, as well as by the attraction of debt financing,” the regulator explained.