Many countries in the world are trying to achieve economic growth and turn the course of deflation into growth, and sometimes economic activities are financed by borrowing and borrowing.
Most of the time, borrowing is through government issuance of bonds in order to bridge the gap in the budget, and the result is that countries incur debts.
The debt-to-GDP ratio is an important economic measure that is usually used to determine the stability and health of a country’s economy. This indicator is usually evaluated along with other indicators, such as per capita GDP and economic growth.
The following is a list that includes a list of countries with the highest debt in relation to GDP for the year 2023, according to data from the (worldpopulationreview) website:
– Venezuela: 350%
– Japan: 266%
– Sudan: 259%
– Greece: 206%
– Lebanon: 172%
– Republic of Cabo Verde: 157%
– Italy: 156%
– Libya: 155%
– Portugal: 134%
– Singapore: 131%
– Bahrain: 128%
– United States: 128%
It is noteworthy that the list includes the United States, which boasts the strongest economy in the world, knowing that it spends more than it earns. The US debt now stands at an astronomical figure of nearly $32 trillion.
Economists warn against investing in US treasury debt, and they call to stay away from the dollar in international trade and reserves in light of the huge unsupported debt.
As for the least indebted governments in the world, the worldpopulationreview report included countries such as Kuwait (11.5% debt-to-GDP ratio), Brunei (3.2%) and Russia (17.8%).
Yesterday, Russian President Vladimir Putin indicated that the decline in Russia’s public debt is a good indicator, especially when compared to other countries, including developed countries, and said that Russia is ahead of countries such as the United States, Germany and France in this indicator.
This article was originally published by RT.