2024-04-19 04:06:32
The level of public debt of all countries increased last year to 93.2% of global GDP. This is stated in the next report of the International Monetary Fund (IMF) “Budget Bulletin”, Day.Az reports with reference to TASS.
“In 2023, global government debt rose by about 2 percentage points, to 93.2% [мирового] GDP,” noted the report’s authors. According to their estimates, this figure “remains 9 percentage points above the level it occupied before the start of the pandemic.” “The growth leaders were the two largest economies – the United States and China, where debt increased by more than 2 and 6 percentage points of GDP, respectively,” the fund explained.
According to IMF forecasts, China’s public debt this year will reach 88.6% of GDP, in 2027 it will amount to 101.8% of the country’s GDP, and in 2029 – 110.1% of GDP. The US national debt this year will amount to 123.3% of GDP and will grow to 133.9% of GDP by 2029. In turn, the fund expects the Russian government debt to grow to 20.8% of Russian GDP in 2024, and it will increase to 24% in 2029. Ukraine’s national debt this year will amount to 94% of GDP, in 2025 it will reach 96.7%, and by 2029 it will drop to 88.2%. The Fund does not indicate the exact amounts of national debt of countries.
As the report notes, “by 2029, the level of global public debt will reach 99% of GDP, which will be driven by rising public debt in China and the United States, where under current policies it will continue to grow, exceeding historical highs.”
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