Russia Tops G20 with Lowest Debt Ratio at 18% of GDP, Japan Highest at 206%
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Jakarta Indonesia, NETTI npo.Com
Russia recorded the lowest public debt-to-GDP ratio among G20 countries at the end of 2025, at just around 18 percent, according to the latest data from the International Monetary Fund (IMF).
Most of this debt is held by the Russian federal government, reflecting tight fiscal management amidst the pressure of international sanctions.
This position places Russia well below the G20 average, with Turkey ranking second lowest at 23.5 percent, followed by Saudi Arabia at 31.7 percent.
Conversely, Japan has the highest debt burden at 206.5 percent of GDP, followed by Italy at 137.1 percent, and the United States at 123.9 percent. This IMF data highlights the disparity in fiscal policies between developed and developing countries in the G20 forum.
The IMF report emphasized that Russia's low debt ratio is supported by strong foreign exchange reserves and energy export revenues, despite geopolitical volatility. Analysts are monitoring whether this trend is sustainable amid projected slowing global growth.
