Russian’s external debt-to-GDP ratio plummeted to a historic low of 15 per cent by the end of the first quarter, local media said on Friday.Data from Russia’s Central Bank reveal that the ratio, which stood at 16.6 per cent at the end of 2022, has further declined, reports Xinhua news agency.
By late March, state and corporate debt combined amounted to $354.8 billion.
This impressive progress stands in stark contrast to 1999 when Russia’s external debt-to-GDP ratio hit its highest peak at a staggering 91 per cent.
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