Russia’s foreign debt has reached its lowest record level since 2006, according to a report issued by the Central Bank of Russia (CBR) on Monday.
The report highlighted that Russia’s external debt decreased by $25.9 billion (6.8%) since the start of 2023 and amounted to $354.8 billion as of 1 April 2023.
In 2006, Russia’s external debt stood at $313.2 billion, rising to $355.6 billion in the first quarter (Q1) of 2007, which means that the current debt level is the lowest it has been since the end of 2006.
Government bodies’ debts decreased by 12.3% to $40.4 billion. Meanwhile, the debts of the central bank and other lenders retreated by 2.1% to $91.6 billion, while the rest of the economic sectors went down by 7.6% to $222.7 billion.
In the same vein, the S&P Global analytical agency reported that Russia’s Manufacturing Purchasing Managers’ Index (PMI) declined to 52.6 points in June 2023 from 53.5 points in May.
“The upturn slowed slightly from May following softer expansions in output and new orders,” the report said.
The PMI value above 50 points is indicative of the business activity growth and the value below the said level flags its slowdown.
