Russian government will grow in the coming years, with no threat to the financial system. So assessed the state of the Russian public debt Auditor of the Accounts Chamber Alexei Savatyugin, RIA Novosti quotes him.
The draft federal budget for the next three years states that the volume of the public debt will grow to 21.1 percent of GDP in 2024. By the end of this year, its increase is predicted from 17.7 to 17.8 percent of GDP, by the end of 2022 – up to 19.4 percent, by 2023 – up to 20.3 percent.
According to Savatyugina, it is impossible to accurately call the border of the public debt, after which risks begin, as it depends on the economic structure and financial system of a certain state.
“In Russia, it also depends on the risks from which we are trying to protect. Now we see the budget for the budget for the next three years that the general level of the public debt is growing with us. However, in relation to GDP, it remains small – Russia is in the lower dozen countries of the world according to this indicator, “said Savatyugin.
He said that global debt to global GDP is about 98 percent. The European Union and Great Britain has a little less than 100 percent, Japan has about 250 percent. More than 100 percent of the public debt from GDP in Italy, Spain, Belgium and Canada, noted the auditor.
Savatyugin stressed that the growth in the near future will be associated with the internal debt – ruble bonds that local investors buy.
“Neither by the general amount of debt, nor in its structure we do not see risks for the sustainability of the Russian budget or financial system,” he concluded.
Previously, the Accounts Chamber spoke about the “ambitious task” of Russia’s GDP growth. This figure in 2022-2024 should grow three percent, stated in the department.