General government debt of states reached record revels!

General government debt of states reached record revels!
05 December 2019

Despite the slowdown in the global economy, states are taking precautions rapidly to overcome the growing problem with central banks and public investments. According to the analysis of B2Press based on IMF’s data, these precautions would bring significant increases in countries' public debt and the total amount of gross government debt reached $ 69 trillion.​

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ISTANBUL (TR) - The year 2019, when trade wars were well visible and global economic growth slowed down, raised the state's indebtedness to the highest level to date. B2Press Online PR Agency, which analyzes the data of the International Monetary Fund (IMF), announced that the total public debt of the states around the world was 69.3 trillion dollars. Thus, the ratio of global public debt to world national income rose to 82 percent and reached the highest level in human history. In 2000, the total public debt of the states was around 20 trillion dollars.

Japan, Sudan and Greece take the lead in a high indebtedness ratio.

When the ratio of public debt to national income is analyzed, Japan ranks first with 237.7 percent, followed by Sudan with 207 percent and Greece with 176.6 percent. If Greece continues to borrow in this way, it will rank first in the world with a public debt rate of 275% in 2060. According to B2Press's analysis, Venezuela is another country with a rapid increase in public indebtedness. Especially in the USA, which is struggling against oil embargo and hyperinflation, the ratio of public debt to gross domestic product reached 182% in one year.

Turkey's public debt to GDP ratio of 30%

Turkey has approximately 233 million dollars, compared to 3% of the global debt. When the IMF database located in the government debt to gross domestic product ratio has examined the rate of 50% at the beginning of the 2000s in Turkey decreased to 27.6% in 2015 to look at the stands. The public debt ratio, which started to increase again after 2015, reached 30% of the national income in 2019.

China has left the USA and European countries behind.

When we look at the total public debt table of the states worldwide, the biggest share in the total debt amount belongs to the USA. The United States, which owns one-third of global public debt, will reach $ 22 trillion in public debt by the end of 2019. Behind the United States in total debt amount is Japan with 17 percent and the People's Republic of China with 9.8%. Although the People's Republic of China ranks third among the most indebted countries with a state debt of $ 7 trillion, it has a lower indebtedness rate than most European countries with 50.6 percent of the national income.