The debt burden on the world is continuously increasing. According to the latest data, global debt has reached a record level of $102 trillion. Many big countries of the world are dependent on heavy debt to run their economy. IMF and US Treasury figures show that America has the highest debt in the world.
The debt of the Federal Government of the world’s largest economy has reached $36 trillion, which is about 125 percent of its GDP. That is, 34.6 percent of the world’s total debt is on America alone, while China, the world’s second largest economy, has 16.1 percent of global debt with a debt of 14.69 trillion dollars. China is the second largest economy in the world, but for some time now it has been facing problems on many fronts. Have to struggle.
Japan has a debt of 10.79 trillion dollars, equal to 10 percent of the global debt. This means that the top 3 economies of the world are also present in the first 3 positions in terms of debt. After this comes the number.
Britain’s total debt is 3.46 trillion dollars, while France’s debt is 3.35 trillion dollars and Italy’s debt is 3.14 trillion dollars. India, which is the fifth largest economy in the world, is at number seven in this list.
India had a debt of $3.057 trillion last year, which is equal to 3.2 percent of the global debt. India’s debt is more than that of Germany, Canada, Brazil and Russia, Germany’s debt is equal to 2.9 percent of the global debt, Canada’s debt is 2.3 percent, Brazil’s debt is equal to 1.9 percent of the global debt.
Iraq, Chile, Czech Republic, Vietnam, Hungary, UAE, Bangladesh, Ukraine, Taiwan, Romania, Norway, Sweden, Colombia, Ireland and Finland have the lowest debt in the world. If we talk about India’s neighboring countries, Pakistan has only 0.3 percent of the global debt. Bangladesh has 0.2 percent.
The increase in debt in big countries is a matter of concern because it affects not only their economy but the entire global market. If this debt continues to grow at this pace then
The global economic crisis may deepen further. In such a situation, countries will have to pay attention to their economic policies so that this debt burden can be kept under control in the future.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.