Russia's foreign debt declines to $293.4 billion Lowest level since 2006

Russia's foreign debt has fallen below $300 billion for the first time since 2006.

As of October 1, 2024, the external debt is recorded at $293.4 billion, representing a significant decrease of $24.5 billion, or 7.7 per cent, since the start of the year, Caliber.Az reports per Russian media.

This decline marks the lowest level of foreign debt since 2006, when it was $269.5 billion. The Central Bank's analysis indicates that the reduction in foreign debt is primarily due to decreased liabilities across various sectors of the economy, particularly in attracted loans and direct investment relationships.

In the third quarter alone, external debt in other sectors decreased by $11.1 billion, or 6.5 per cent, bringing the total to $160.9 billion. Over the first nine months of the year, these liabilities dropped by $29.5 billion, or 15.5 per cent, to $190.4 billion.

Additionally, Russia's international reserves were reported at $629.9 billion as of October 4, marking a decline of $3.7 billion, or 0.6 per cent, over the previous week, primarily due to negative revaluation effects.

By Vafa Guliyeva