List of countries by government debt

[ST1976]

List of countries by government debt​

List of countries by government debt - Wikipedia​

en.wikipedia.org

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List of National Debt by Country​

• This is a list of the gross national debt of 178 countries, showing the variation in debt levels from Venezuela at 304% of GDP to Macau at 0% of GDP.
• National debt refers to the amount of total government debt a country has. This is also referred to as ‘public sector debt’.
• It is compiled using data from the IMF.

Debt of selected economies​

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List of National Debt by Country​

Levels of general gross government debt. Debt levels as % of GDP for 2021 (² unless stated)

Rank	Country	Debt levels as % of GDP for 2021
1	Venezuela ²	304
2	Japan	256.5
3	Sudan	211.7
4	Greece	210.1
5	Eritrea	175.6
6	Suriname	157.4
7	Italy	157.1
8	Lebanon ²	154
9	Barbados	143
10	Maldives	139.7
11	Cabo Verde	137.6
12	Belize	134.6
13	United States	132.8
14	Portugal	131.4
15	Singapore	129.5
16	Bahrain	129.4
17	Mozambique	125.3
18	Bhutan	123.4
19	Zambia	118.7
20	Spain	118.4
21	Canada	116.3
22	Belgium	115.9
23	France	115.2
24	Cyprus	113
25	Angola	110.7
26	United Kingdom	107.1
27	Sri Lanka	105.4
28	Argentina (2)	103
29	Brazil	98.4
30	Jamaica	96.5
31	Dominica	96.4
32	Montenegro	94.6
33	Egypt	92.9
34	Jordan	91.2
35	Tunisia	91.2
36	Congo, Republic of	90.5
37	Bahamas, The	88.6
38	El Salvador	88.2
39	Mauritius	87.7
40	Pakistan	87.7
41	Austria	87.2
42	India	86.6
43	Croatia	86.3
44	Fiji	83.6
45	Iceland	82.5
46	Ghana	81.5
47	South Africa	80.8
48	Slovenia	80.5
49	Hungary	80
50	Israel	78.3
51	Guinea-Bissau	78.1
52	Mongolia	77.9
53	Morocco	77.1
54	Malawi	76.8
55	Burundi	75.6
56	Albania	75.4
57	Grenada	74.5
58	Gambia, The	73.9
59	Kyrgyz Republic	73.4
60	Yemen	73
61	Costa Rica	72.5
62	São Tomé and Príncipe	72.4
63	Australia	72.1
64	Kenya	71.5
65	Namibia	71.4
66	Oman	71.3
67	Gabon	71.1
68	Germany	70.3
69	Armenia	69.9
70	Iraq	69.7
71	China, People’s Republic of	69.6
72	Bolivia	69
73	Finland	68.8
74	Lao P.D.R.	68.3
75	Uruguay	68
76	Malaysia	67
77	Senegal	66.8
78	Dominican Republic	66.6
79	Rwanda	66
80	Ecuador	65.1
81	Puerto Rico	64.8
82	Colombia	64.2
83	Slovak Republic	64
84	Emerging market and developing economies	64
85	Georgia	63.9
86	Algeria	63.3
87	Ireland	63.2
88	Trinidad and Tobago	62.1
89	Panama	61.4
90	Mexico	60.5
91	Togo	60
92	Qatar	59.8
93	Serbia	59
94	Ukraine	58.1
95	Malta	57.9
96	Poland	57.4
97	Liberia	57
98	Mauritania	56.3
99	Netherlands	56.1
100	Ethiopia	56
101	Thailand	55.9
102	Honduras	53.9
103	North Macedonia	53.8
104	Korea, Republic of	53.2
105	Romania	52.6
106	Philippines	51.9
107	Zimbabwe	51.4
108	Lesotho	49.8
109	Tajikistan	49.8
110	Nepal	49.6
111	Papua New Guinea	49.6
112	Lithuania	49.5
113	Myanmar	49.1
114	Samoa	49
115	Uganda	48.8
116	Vietnam	48
117	West Bank and Gaza	47.9
118	Benin	47.7
119	Nicaragua	47.6
120	Latvia	47.2
121	South Sudan, Republic of	47
122	Madagascar	46.9
123	Burkina Faso	46.8
124	New Zealand	46.4
125	Côte d’Ivoire	46.3
126	Mali	46.1
127	Belarus	45.7
128	Switzerland	44.8
129	Niger	44.5
130	Equatorial Guinea	44.1
131	Czech Republic	44
132	Tonga	43.7
133	Cameroon	42.5
134	Guinea	42.3
135	Uzbekistan	42.3
136	Central African Republic	42.2
137	Chad	41.7
138	Denmark	41.6
139	Norway	41.6
140	Guyana	41.4
141	Indonesia	41.4
142	Sweden	40.4
143	Bangladesh	40.2
144	Djibouti	40.2
145	Moldova	39.5
146	Bosnia and Herzegovina	38.6
147	Tanzania	37.9
148	Turkey	37.1
149	United Arab Emirates	37.1
150	Iran	36.6
151	Paraguay	35.7
152	Peru	35.4
153	Chile	33.6
154	Cambodia	33.4
155	Guatemala	33.1
156	Taiwan Province of China	32.5
157	Nigeria	31.9
158	Saudi Arabia	31
159	Azerbaijan	30.9
160	Kazakhstan	27
161	Luxembourg	26.8
162	Haiti	26
163	Turkmenistan	26
164	Bulgaria	25.5
165	Botswana	25.3
166	Estonia	25.1
167	Marshall Islands	23.3
168	Kiribati	21.4
169	Russian Federation	18.1
170	Micronesia, Fed. States of	15.3
171	Timor-Leste	15
172	Kuwait	13.7
173	Congo, Dem. Rep. of the	12.4
174	Tuvalu	11.8
175	Afghanistan	8.8
176	Brunei Darussalam	2.3
177	Hong Kong SAR	0.9
178	Macao SAR	0

All debt levels apply to 2021, except ² No figures for 2021. Debt given for 2020

Source: IMF DataSet, accessed 1 September 2021
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Highest levels of Government debt in the world​

Problems of national debt​

High levels of national debt can cause these potential problems

1. Requirement of higher taxes and/or lower spending
2. Higher debt interest payments
3. Pressure to print money – causing inflation.
4. Debt financed by overseas borrowing can lead to external pressure
5. Crowding out of the private sector

See: more problems of government borrowing

How much can a government borrow?​

• Japan’s national debt is 265% of GDP and has been high for a couple of decades. This reflects the ability of Japan to borrow from domestic citizens. Despite prolonged periods of high debt, interest rates are still low because markets feel the government is still solvent.
• A developing economy like Argentina has a track record of default on debt, therefore markets are less willing to lend money to the government. Therefore when debt levels in Argentina increase it has a greater effect on pushing up interest rates.

Factors that depend on how much a government can borrow include​

• Default rates of government
• Inflationary pressures. High inflation will make investors less willing to buy government bonds because they will devalue due to inflation
• Can the government print its own money? If the government can print money it can avoid liquidity issues, though there is potential danger of inflation.
• What are the prospects for economic growth? Higher economic growth makes it easier to reduce debt to GDP ratios over time.
• How much can a government borrow?

Difference between debt and deficit​

Government debt is the total amount of outstanding liabilities. The deficit is the annual amount by which spending exceeds income. The debt is the accumulation of past deficits.

For example in 2020, the US deficit was $3.13 trillion. The US total debt is $29 trillion.

Causes of national debt​

This graph for US national debt shows how national crisis leads to a rise in government borrowing. This isn’t necessarily a bad thing. Government debt enabled the US government to finance the short-term costs of the two world wars. It also enabled the government to respond to the crisis of the 2008 financial crash and the 2020 Covid crisis. Causes of national debt can include

• Recession – tax revenues fall when the economy shrinks. Also the government spend more on unemployment benefits
• Investment – Governments might borrow to build new roads, schools and hospitals.
• Finance war –
• Demographic changes and welfare spending. An ageing population tends to place more strain on government finances with older people requiring more health care spending, pensions and also they pay less income tax.
• Political decisions. Some governments may support higher spending on welfare programmes, whearas other governments may target a balanced budget.

List of National Debt by Country - Economics Help​

An updated list of countries national debt as % of GDP. From Venezuela at over 300% of GDP to Hong Kong and Brunei at close to 0%. Causes | problems| Explanation of national debt.

www.economicshelp.org

List of National Debt by Country - Economics Help​

An updated list of countries national debt as % of GDP. From Venezuela at over 300% of GDP to Hong Kong and Brunei at close to 0%. Causes | problems| Explanation of national debt.

 

[ST1976]

https://www.theatlantic.com/busines...t-from-1790-to-2011-in-1-little-chart/265185/
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Timeline: 150 Years of U.S. National Debt​

This interactive visual shows how the U.S. national debt has fluctuated since 1900, as well as projections all the way to 2050.

www.visualcapitalist.com
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[ST1976]

Country List Government Debt to GDP | Europe​

This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Country List Government Debt to GDP. This page provides values for Government Debt to GDP reported in several countries part of Europe. The table has current values for...

tradingeconomics.com

Country	Last	Previous	Reference	Unit

Belgium

105

109

Dec/22

%

Euro Area

91.5

95.4

Dec/22

%

Germany

66.3

69.3

Dec/22

%

Italy

145

150

Dec/22

%

Spain

113

118

Dec/22

%

United Kingdom

101

97.2

Dec/22

%

Greece

171

195

Dec/22

%

France

112

113

Dec/22

%

 

[Rego]

I think it's very important to differentiate between EXTERNAL and INTERNAL debt. My pension fund is a debt given to the Govt by me, I will demand it back with interest over-time. But internal debt is not much of an issue as they moeny is circulated within the country.

The problem is external debt, that is debt taken from other countries. Especially if this debt is used to finance non-productive works such as defence or consumption buying. This is where Pakistan is struggling very badly.

It has taken massive loans just to buy food articles, palm oil, petroleum, natural gas, defence equipment and outdated thermal power production plants(CPEC) which contribute nothing to the economy but consume majority of national resources.

 

[Rego]

I think it's very important to differentiate between EXTERNAL and INTERNAL debt. My pension fund is a debt given to the Govt by me, I will demand it back with interest over-time. But internal debt is not much of an issue as they moeny is circulated within the country.

The problem is external debt, that is debt taken from other countries. Especially if this debt is used to finance non-productive works such as defence or consumption buying. This is where Pakistan is struggling very badly.

It has taken massive loans just to buy food articles, palm oil, petroleum, natural gas, defence equipment and outdated thermal power production plants(CPEC) which contribute nothing to the economy but consume majority of national resources.

The problem is complex because there is no solution.

Overpopulation has caused food shortage. Food imports cannot be stopped or reduced as it will lead to riots. In fact, fast increasing population with reducing agricultural land and impending water shortage would mean food imports will increase exponentially.

Defence equipment will not reduce because KASHMIR!!!

Petroleum and Natural gas cannot be reduced beyond a certain point.

Electricity prices are tied to long-term non-negotiable "secret" contracts with Chinese IPPs which force Pakistan to not only pay high costs for consumed electricity but even high capacity charges for non-consumed electricity. Price of commercial electricity in Pak is 24 cents/KWH. In India and BD it's 7-8 cents per KWH.

Where are you going to reduce imports? It's impossible to reduce imports.

How are you going to increase exports? Extremely high-energy costs for industries, lack of skilled labour, unfair competition by military-backed conglomerates and flooding of local market by cheap Chinese goods means Pak industries would never be able to stand on their own feet.

The country is bound to collapse economically, I don't see a way out of this mess. Once the collapse comes, it will take 20-35 years at least for Pak to come back to current level of wealth. Till then it would feature in the 10-20 poorest nations in the world.

 

[VCheng]

The country is bound to collapse economically, I don't see a way out of this mess. Once the collapse comes, it will take 20-35 years at least for Pak to come back to current level of wealth. Till then it would feature in the 10-20 poorest nations in the world.

And from which body orifice are you pulling out such accurate predictions? Oh, you are quoting yourself so does that count as talking to yourself.

Please stop trolling. Second reminder.

 

[Rego]

And from which body orifice are you pulling out such accurate predictions? Oh, you are quoting yourself so does that count as talking to yourself.

Please stop trolling. Second reminder.

DO u disagree with my predictions? I have mentioned in brief the reasons for my observations.

 

[VCheng]

DO u disagree with my predictions? I have mentioned in brief the reasons for my observations.

All the "reasons" you mention are applicable to a whole host of other countries, perhaps even more so to India. Perhaps you should concentrate on your own country.

Please stop trolling. Third reminder.

 

[Nuffle]

https://edition.cnn.com/2024/01/03/economy/us-national-debt-34-trillion/index.html

US national debt hits record $34 trillion​

The US government’s debt has topped $34 trillion for the first time, just weeks ahead of deadlines for Congress to agree to new federal funding plans.

Data published by the Treasury Department showed that “total public debt outstanding” rose to $34.001 trillion on December 29. That figure, also known as the national debt, is the total amount of outstanding borrowing by the US federal government accumulated over the nation’s history.

The milestone comes just three months after the US national debt surpassed $33 trillion, as the budget deficit — the difference between what the government spends and what it receives in taxes — ballooned.


Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a fiscal watchdog, called the record figure “a truly depressing ‘achievement.’”

“Though our level of debt is dangerous for both our economy and for national security, America just cannot stop borrowing,” she said in a statement Tuesday.

The national debt has become a major point of contention between Republicans and Democrats, aggravating standoffs over the federal budget that threaten to shut down the government periodically.

Republicans say federal spending programs championed by the Biden administration are too expensive, and Democrats say GOP-backed tax cuts have squashed revenue.

White House spokesperson Michael Kikukawa said the rising sum was “driven overwhelmingly by repeated Republican giveaways skewed to big corporations and the wealthy,” which led to cuts to Social Security, Medicare and Medicaid that hurt ordinary Americans.

Kikukawa said President Joe Biden had a plan to reduce the deficit by $2.5 trillion by “making the wealthy and big corporations pay their fair share and cutting wasteful spending on special interests,” including large pharmaceutical and oil companies.

Whoever is to blame, mounting debt and political brinksmanship have already taken their toll on America’s credit rating. Fitch cut its rating on US sovereign debt to AA+ from AAA last August; in November, Moody’s warned that it could also remove the US’ last perfect AAA rating.

Lawmakers in Washington are facing deadlines for the passage of permanent department budgets in January and February after the Senate agreed a stopgap funding bill to avert a government shutdown in November.

That bill extended funding until January 19 for priorities including military construction, veterans affairs, transportation, housing and the Energy Department. The rest of the government was funded until February 2. It did not include additional aid for Ukraine or Israel.

“We remain hopeful that policymakers will take further measures to reduce our borrowing either by raising taxes, reducing spending, or creating a fiscal commission — or ideally by doing all of the above,” MacGuineas said.

According to the Treasury, the debt that counts towards the debt ceiling — which limits how much the government is allowed to borrow and is also a frequent source of political brinksmanship — rose to $33.89 trillion.

Rising government debt burdens in the United States and elsewhere have become a growing cause for concern because of a recent rapid rise in interest rates, which has made it much more expensive to service that debt.

According to the Peter G. Peterson Foundation, an American bipartisan group that advocates for fiscal responsibility, the US government spends $2 billion a day on debt interest payments alone.

“America’s high and rising debt matters because it threatens our economic future,” the foundation said in a statement Tuesday.

It noted that within 10 years, the federal government will spend more on interest payments than it traditionally has on research and development, infrastructure and education, combined.

 

[ST1976]

National Debt Clock: What Is the National Debt Right Now?

What is the national debt? Check our debt clock for the latest numbers and learn about the causes of our high and rising debt.

www.pgpf.org

https://www.usdebtclock.org/

 

[BHAN85]

More important than the percentage of debt, it's who is the owner of debt.

 

[Beijingwalker]

The western audience only know China debt. When it comes to debt owed, China is in deep debt crisis and is collapsing, when it comes to debt owed by other countries to China, China is destroying poor countries with "debt trap".

 

[swas]

The western audience only know China debt. When it comes to debt owed, China is in deep debt crisis and is collapsing, when it comes to debt owed by other countries to China, China is destroying poor countries with "debt trap".

China isn't collapsing. It has enough money to sponsor an army of 50 cent trolls lile yourself, the parasites of the internet forum world.

 

[Beijingwalker]

China isn't collapsing. It has enough money to sponsor an army of 50 cent trolls lile yourself, the parasites of the internet forum world.

Not as much as India does, you are the kindom of trolls

 

[ST1976]

The western audience only know China debt. When it comes to debt owed, China is in deep debt crisis and is collapsing, when it comes to debt owed by other countries to China, China is destroying poor countries with "debt trap".

economic position of China is relatively very good. they still maintain bit better debt level than countries like India ..............