Russian public debt: ways to improve management and minimize risks

The current issues and prospects of improving the government debt obligations management system in Russia have been considered. Modern approaches to public debt management have been analyzed, including methods for assessing its sustainability, forecasting, and debt control. Special attention has been paid to optimizing the debt structure, minimizing risks, and increasing the efficiency of using borrowed funds. Based on the analysis, specific recommendations have been proposed for improving public debt management mechanisms. The possibilities of implementing new financial instruments, automating budget planning processes, and strengthening the role of independent expertise in assessing the debt burden have been discussed. The issues of coordinating various state bodies’ actions and improving information exchange between them have been touched upon. The recommendations are aimed at increasing the transparency and predictability of government debt policy, which contributes to strengthening the country’s financial stability and creating favorable conditions for economic growth. The study results may be useful for government authorities involved in regulating the size and structure of Russia’s public debt, as well as researchers involved in the issues of state and municipal finance and budget system research.

1. Zakiryanov, V. E. (2025). Recommendations for Improving the Effectiveness of Russian Federation Public Debt Management. Vestnik Nauki, 86(5), 225–230. (In Russian).

2. Ivolgina, N. V. (2025). Public Debt Management as the Basis for Ensuring State Debt Sustainability. Audit Journal, 1, 80–87. (In Russian).

3. Blokhina, I. M., Gaivoronskaya, T. D., & Bereznyak, K. A. (2024). Assessment of the Russian Federation’s Debt Level. EGI, 53(3), 424–429. (In Russian).

4. Somoev, R. G., Idrisov, Sh. A. (2022). Theoretical Views and Modern Practice of State Borrowings for Deficit Financing Purposes. RPPE, 146(12), 82–95. (In Russian).

5. Petrushevskaya, V. V., Saenko, A. V. (2024). Promising Concepts for Integrating Risk Management into the Public Administration System. Innovations and Investments, 8, 198–201. (In Russian).

6. Ivanova, A. A., Dzen, M. N., & Borkova, E. A. (2022). Prospects for Public Debt Management Risk Control and Implications for Domestic Bond Market Development. Economics and Business: Theory and Practice, 87(5-2), 20–22. (In Russian).

7. Chernysheva, T. K. (2024). Procedure for Improving the National Strategic Management System under Global Risks. Bulletin of Altai Academy of Economics and Law, 2-1, 123–130. (In Russian).

8. Efimov, N. P. (2024). Financial Risk Management. Economics: Yesterday, Today, Tomorrow, 14(1-1), 327–333. (In Russian).

9. Vakarev, A. A., Vinogradov, V. V., & Litvinova, A. V. (2023). Improving the Risk Management Paradigm in Modern Russia: Developing Resilience in Financial Risks. Forum, 30(1), 72–74. (In Russian).