Russian Federation: Net incurrence of liabilities, total (current LCU)

Key figures

What the numbers say

In 2024, Russian Federation's net incurrence of liabilities, total (current LCU) rose 1.52 trillion on 2023 (from 1.06 trillion to 2.59 trillion).

Across the 25 yearly changes before that (1999 to 2023), the average change was +36.54 billion and a typical year strayed about 1.03 trillion from that (the standard deviation). This year's change was 1.4 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 2.62 trillion in 2020 and the biggest yearly fall was 1.98 trillion in 2018. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 9% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Russian Federation had the 10th highest value of the 55 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Russian Federation in the 2024 ranking

• Uganda — 6th of 55: 7.8 trillion
• Chile — 7th of 55: 7.77 trillion
• Hungary — 8th of 55: 3.5 trillion
• Mexico — 10th of 55: 2.41 trillion
• Türkiye — 11th of 55: 2.38 trillion
• Malawi — 12th of 55: 2.31 trillion

What this measures

Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 27 values

Net incurrence of liabilities, total (current LCU) in nearby economies

• Albania — 48.87 billion (2024)
• Armenia — 399.87 billion (2024)
• Azerbaijan — 1.61 billion (2024)
• Belarus — 3.4 billion (2024)
• Bosnia and Herzegovina — 1.51 billion (2024)
• Georgia — 1.93 billion (2024)
• Hungary — 3.5 trillion (2024)
• Iceland — 113.95 billion (2023)
• Kazakhstan — 2.84 trillion (2023)
• Kyrgyz Republic

More public sector data for Russian Federation

• Military expenditure (current LCU) — 15.96 trillion (2025)
• Military expenditure (% of GDP) — 7.5% (2025)
• Arms exports (SIPRI trend indicator values) — 1.94 billion (2025)
• Intentional homicides, female (per 100,000 female) — 2.78 (2023)
• Intentional homicides, male (per 100,000 male) — 9.87 (2023)
• Military expenditure (current USD) — 190.42 billion (2025)
• Intentional homicides (per 100,000 people) — 6.77 (2021)
• Battle-related deaths (number of people) — 7,670 (2024)
• Net investment in nonfinancial assets (current LCU)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Russian Federation's net incurrence of liabilities, total (current LCU)?

2.59 trillion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1998?

It is up 1,607% from 151.45 billion in 1998 (11.53% a year on average, compounded). The highest value was 5.22 trillion in 2020 and the lowest -837.03 billion in 2005.

How does Russian Federation rank?

10th highest of 55 economies with data for 2024.

Is the latest change in net incurrence of liabilities, total (current LCU) unusual for Russian Federation?

In 2024, Russian Federation's net incurrence of liabilities, total (current LCU) rose 1.52 trillion on 2023 (from 1.06 trillion to 2.59 trillion). Across the 25 yearly changes before that (1999 to 2023), the average change was +36.54 billion and a typical year strayed about 1.03 trillion from that (the standard deviation). This year's change was 1.4 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator GC.LBL.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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