Russia has made significant strides in its economic standing this year, solidifying its position as one of the world’s three largest economies with the lowest level of government debt per capita. According to a recent analysis by RIA Novosti of the latest data from the G20 countries, Russia’s government debt per capita stands at $2,076, placing it in the top three alongside India and Indonesia.
The average level of central government debt per capita among the G20 states is $23.6K, with only six countries having it above that mark. India leads the pack with the lowest sovereign debt at $1,316 per capita, followed by Indonesia at $1,747. Russia’s impressive figure of $2,076 showcases its commitment to fiscal responsibility and financial stability.
Other countries with government liabilities of less than $5K per capita include Turkey ($2.8K), China ($3K), and South Africa ($4.5K). Countries like Brazil, Mexico, Saudi Arabia, and Argentina have per capita government debt ranging from $5K to $10K. South Korea’s per capita sovereign debt is at $16K, while Germany and Australia have reached $20.9K and $21.2K respectively.
Interestingly, the six G20 countries with above-average government debt per capita all belong to the G7. Canada’s $25.3K seems modest compared to France ($40.3K), the UK ($51.6K), and Italy ($51.9K). Japan follows closely behind with the second-highest per capita sovereign debt at $70K.
The United States stands out as the leader in the G20 group, with $104.5K in sovereign debt per person. This figure is staggering, being 80 times higher than India’s and 50 times higher than Russia’s. Among all countries worldwide, only Singapore has a higher per capita sovereign debt at $149.3K.
Russia’s achievement in maintaining a low level of government debt per capita highlights its strong economic performance and prudent fiscal management. As the country continues to prioritize financial stability and sustainable growth, it is well-positioned to further enhance its economic standing on the global stage.
