Russia's total public debt increased to 16.5% of gross domestic product in 2025. This is the highest level since 2020, according to calculations based on official Ministry of Finance statistics.

Five years ago, this figure reached 17.6% of GDP (approximately $256 billion), after which it began to gradually decline: in 2021, it dropped to 15.5%, and in subsequent years, it remained below 14.7%. Thus, the current growth marks the first noticeable return to higher levels in recent years.

The Ministry of Finance previously warned of plans to increase domestic borrowing in 2025, emphasizing that this represents a controlled increase in debt. Finance Minister Anton Siluanov has repeatedly noted that the 20% of GDP ceiling remains a comfortable level for the economy and allows for the country's financial stability to be maintained even with expanded budget expenditures.