State borrowing is expected to reach 18% of GDP by 2027 Russia’s state debt is expected to grow marginally and reach 18% of gross domestic product (GDP) as the government continues to borrow funds to plug a budget gap, the finance ministry said on Tuesday. According to the draft budget, state borrowing will amount to 4.8 trillion rubles ($51.5 billion) next year, 5.1 trillion ($54.9 billion) in 2026, and 5.3 trillion ($57 billion) in 2027. By the end of 2027, public debt will grow to 18% of GDP from 15% of GDP in 2023, the report said. The overall fiscal deficit is expected to stand at 1% of GDP annually (-0.5% o
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