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National Interests: Priorities and Security
 

Analysis of the Russian debt market balance

ISSUE 1, JANUARY 2026

Received: 19 May 2025

Accepted: 9 June 2025

Available online: 29 January 2026

Subject Heading: ECONOMIC SECURITY

JEL Classification: Е44, Е59, Е69, Н69

Pages: 60-77

https://doi.org/10.24891/mxbzrn

Valerii V. SMIRNOV I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Subject. This article discusses the balance of the Russian debt market.
Objectives. The article aims to describe the Russian debt market equilibrium.
Methods. For the study, I used general scientific and specialized economic-mathematical methods.
Results. The article identifies a significant growth in government-issued debt securities, considerably exceeding the growth of debt securities issued by credit and other financial institutions. It also highlights periods of a significant excess of the key interest rate over the inflation rate and the need to maintain high yields on federal loan bonds due to the high key interest rate.
Conclusions. The identified characteristics of the balance in Russia's debt market can be useful for government authorities in critically monitoring the stability of the economy and financial system.

Keywords: asset, debt, inflation, credit, market

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