10 Countries with the Lowest Debt to GDP Ratios

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9. Russia

Debt to GDP ratio: 18.2

In order to keep itself insulated from global capital markets, Russia has had its debt levels kept to a bare minimum. Conservative foreign policies have helped the country achieve this goal. GDP, as of 2021, was valued at $1775.88 billion, with the oil and gas industry accounting for 15% of GDP. Meanwhile, external debt stood at $100.4 billion in early 2023.

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