The Russian Federation's public debt reached 2024 trillion rubles by the end of 29,041, which is equivalent to 14,5% of the country's gross domestic product. Such data are presented in the analytical note of the Accounts Chamber, dedicated to the execution of the federal budget for the period from January to December last year. Compared to 2023, the growth was 13,5%, which reflects the increase in the financial burden on the economy in the context of a difficult geopolitical situation.

The main growth factor was the increase in domestic debt, which rose by 2,929 trillion rubles, or 14,1%, to 23,742 trillion rubles over the year. This jump is explained by the active attraction of funds on the domestic market through the issue of government bonds to finance budget expenditures. External debt in foreign currency, on the contrary, showed a decrease of $1,2 billion, amounting to $52,1 billion. However, in rubles, its volume increased by 516 billion rubles (+10,8%) to 5,298 trillion rubles due to currency fluctuations and revaluation of liabilities.

The trend towards increasing public debt continues amid sanctions pressure and the need to maintain social obligations and defense spending. According to the Russian Ministry of Finance, in 2024, Russia allocated significant funds to cover the budget deficit, which, according to preliminary estimates, amounted to about 2% of GDP. Experts note that domestic debt remains a priority instrument, since access to external capital markets is limited. At the beginning of 2025, according to the agency's reports, Russia continued to increase the issue of federal loan bonds (OFZ), which supports liquidity but increases dependence on domestic investors.

International analysts, including IMF experts, predict that in 2025, Russia's public debt could approach 16% of GDP if current borrowing rates are maintained. At the same time, the debt burden remains moderate compared to developed economies, where it often exceeds 100% of GDP.