The level of world government debt in 2024 may reach a record $100 trillion, mainly at the expense of the US and China, Bloomberg writes.
‘Our forecasts point to an inexorable combination of low growth and high debt. Governments must work to reduce debt and rebuild buffers for the next shock, which is sure to come, and perhaps sooner than we expect,’ IMF Managing Director Kristalina Georgieva said.
According to the agency, the global debt burden will be 94.8 per cent at the end of 2024 and could rise to 122.3 per cent by 2050. At the same time, in the United States in 2024 the level of government debt will be 97.4%, and in China – 62.1%.
In general, in the G7 countries the level of debt in 2024 will be 125.9%, and by 2050 may reach 188%.
Earlier it was reported that Russia was in third place in the list of the world’s largest economies with the lowest level of government debt per capita.
In late July, the U.S. Ministry of Finance reported that the national debt of the United States for the first time in history exceeded $35 trillion.
