IMF: Global Public Debt to Exceed $100 Trillion This Year
This year, global public debt will exceed $100 trillion, which will amount to 93% of global GDP.
And by 2030, global government debt will amount to 100% of global GDP.
TASS reports this with reference to a report by the International Monetary Fund.
What will happen to the global government debt in the coming years?
The IMF has stated that the global public debt is extremely high. It is expected to exceed $100 trillion (93% of global GDP) this year and reach 100% of global GDP by 2030.
While public debt is projected to stabilize or decline in two-thirds of countries, it will remain significantly higher than expected before the coronavirus pandemic.
The fund noted that countries in which stabilization of public debt is not predicted account for more than half of the global public debt and about two-thirds of global GDP.
There are good reasons to believe that future debt levels will be higher than currently projected, the report says.
In April, the IMF reported that global government debt rose by about 2% last year to 93.2 times global GDP.
It was noted that the leaders in growth were the United States and China, whose national debt increased by more than 2% and 6% of GDP, respectively.
