Russia’s External Public Debt Reaches Record Level

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Russia’s External Public Debt Reaches Record Level

18.02.2026 News

Russia’s external government debt reached $61.97 billion as of February 1, 2026, the highest figure in the past 20 years, according to data from the Ministry of Finance of Russia, reported by The Moscow Times.

As of January 1, 2006, Russia’s external public debt stood at $76.5 billion, but by 2007 it had fallen to $52 billion and in the following years did not exceed the $60 billion mark.

Meanwhile, the Bank of Russia estimated the country’s total external debt at $319.8 billion as of January 1, 2026. According to the regulator, it increased by $30 billion over the year, or 10.4%, driven by the revaluation of liabilities due to the strengthening ruble, as well as new borrowing.

In addition to external debt, the Russian government also carries significant domestic debt. Between 2023 and 2025, it rose by 13 trillion rubles, reaching 38.5 trillion rubles.

Authorities plan to borrow an additional 3.98 trillion rubles in 2026, 3.79 trillion in 2027, and 4.57 trillion in 2028. As a result, total domestic public debt is expected to grow by 15.2 trillion rubles over three years, reaching 53.7 trillion rubles.

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