Russian central bank records increase in foreign debt over 2025 Q1

Russia’s foreign debt has increased by 7.6 per cent compared to the beginning of the year, which equals to a change of approx. $22.1 billion.

The figure that is representative as of April 1, 2025 has been published by the press service of the Central Bank of Russia, Caliber.Az reports citing Russian media.

“The increase was mainly driven by the positive revaluation of liabilities in other sectors,” the regulator’s press office explained.

It is worth to note that the Russian government's Accounts Chamber previously reported Russia’s national debt to have grown by 13.5 per cent in 2024. As of January 1, 2025, the debt reached 14.5 per cent of the country's GDP and amounted to $290.4 billion, which is $27.5 billion less than at the beginning of 2024.

Spending on debt servicing rose by 35% in 2024, with its share in overall budget expenditures reaching 5.8 per cent. Auditors warned that the Finance Ministry’s active issuance of floating-rate bonds poses risks to budget performance, as payouts could surge sharply in the event of rising inflation, an increase in the key interest rate, or the materialization of external risks.

By Nazrin Sadigova