Sep 16, 2020
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The state debt of the Russian Federation in 2023 will exceed 21% of GDP due to the crisis in connection with COVID-19

The state debt of Russia in 2021 will cross the mark of 20% of GDP, and in 2023 it will grow to 21.3% of GDP.

Such data are indicated in the explanatory note to the draft federal budget for 2021 and the planning period of 2022 and 2023, reports TASS.

According to the document, in 2021 the public debt will increase to 20.3% of GDP, in 2022 it will amount to 20.8% of GDP, and in 2023 it will grow to 21.3% of GDP.

At the same time, the draft budget indicates that the largest share in the structure of the public debt will have domestic borrowings, while the external debt will amount to about 5.1-5.3 trillion rubles.

The volume of government borrowings will be increased to implement measures to support the economy due to the crisis caused by the coronavirus pandemic, as well as to cover the budget deficit.

Earlier, the head of the Russian Ministry of Finance said that in 2021 the volume of public debt will approach 20% of GDP.

In early September, reported that in 2021, the US national debt could exceed the country's GDP - for the first time since the middle of the last century.

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