Russia’s external debt hit a 16-year low

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Russia's external debt hit a 16-year low

Russia’s foreign debt decreased by 5.5 percent in the first quarter of the year to 357 billion 900 million dollars. Thus, Russia’s external debt fell to the lowest level in the last 16 years.

According to information provided by the Central Bank of Russia, the country’s external debt decreased by 22 billion 600 million dollars or 5.9 percent in the first quarter of 2023 to 357 billion 900 million dollars.

Thus, Russia’s external debt fell to the lowest level in the last 16 years. The external debt was 335 billion 600 million dollars on April 1, 2007.

It was noted that direct investments and loans provided and the decrease in the external debt of other sectors were the most important factors.

According to the Central Bank of Russia, the external debt of other sectors decreased by 6.6 percent ($15.9 billion) to $225.1 billion in the first quarter. As of April 1, the external debt of public companies decreased by $5.9 billion to $40.2 billion, while the external debt of the Bank of Russia and other Russian banks decreased from $93.4 billion to $92.5 billion in the first quarter of the year.

The Central Bank also reported that Russia’s international reserves reached $600.8 billion as of April 7.

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