Almost all developed countries regularly face a budget deficit. Those borrowings that the state makes to cover the deficit form the state debt of the country.
Our today ranking of countries in terms of public debt compiled according to the Ukrainian information and analytical center FOREX CLUB. Not only the countries of the crisis Eurozone, but also the traditionally more prosperous Canada and Japan, as well as Singapore, were in the top ten. By the way, Russia's public debt in percentage terms is more modest than that of the rating participants and amounts to about 10% of GDP.
10. Germany owes about 80% of GDP
Europe’s main economy is borrowing heavily enough to prevent a recession. German public debt is $ 2915 billion, which is about $ 30 thousand per citizen. In the pre-crisis years, the share of public debt did not exceed 67% of GDP.
9. Canada owes approximately $ 1475 billion, or 85% of its own GDP
By the end of this year, the country's government predicts a two percent decline in this indicator. Per Canadian, the amount of debt exceeds $ 42 thousand.
8. France has government debt of $ 2394 billion, or 87% of GDP
Analysts' forecasts regarding the dynamics of this debt are disappointing - by the end of the year the amount will increase and amount to about 90% of GDP. Per one citizen, the country's debt will be slightly less than $ 38 thousand.
7. Belgium
It is increasingly mentioned among the unstable countries of the Eurozone, financial stability ratings show a tendency to worsen. The state’s state debt is 101.8% or $ 505 billion. By the end of the year, debt can increase to 105% of GDP. Per Belgian public debt is more than $ 46 thousand.
6. USA is the first non-European country in our ranking
The level of US government debt is 103% of GDP. The volume of borrowing has increased significantly compared to 2005, when the public debt amounted to about 40% of GDP. Today, almost $ 50 thousand of debt falls on one American, and analysts predict only an increase in this indicator. Over the year, US borrowing is growing by about 9%. However, it should be noted that the US economy retains growth opportunities even with such a significant debt burden, in addition, it is a country with the most affordable real estate. Experts predict that by 2015, the US public debt will exceed the $ 20 trillion bar.
5. Singapore holds the level of public debt at the level of 106% of GDP
Experts believe that the position of Singapore in the ranking will improve, as the country's economy is showing growth. In the meantime, about $ 50 thousand dollars of public debt fall on one citizen of Singapore - the city-state has caught up with the United States on this indicator. By the way, 91% of the country's public debt is covered by international reserves.
4. Ireland shows a public debt rate of 107% of GDP.
The banking sector of the country is in a clear crisis, which, combined with pan-European problems, negatively affects the volume of borrowing. Until 2008, Ireland's debt did not exceed 30% of GDP, while experts predict an increase to 120% in the next year or two. In terms of public debt per inhabitant of the country, Ireland is second only to Japan.
3. Italy closes the top three leaders in today's rating
The level of public debt in the country is 123% of GDP. For every Italians today, there are approximately $ 43 thousand of state borrowings. True, the Italian economy is showing growth of about 7% per year, so a significant increase in the share of government debt to GDP is not expected. Analysts forecast an increase of 1-1.5% by the end of this year.
2. Greece is on the verge of default
- public debt in the first quarter of this year amounted to 132.4% of GDP. In 2011, this indicator was higher - 143%, however, part of the debt was written off or repaid. This is the country closest to default on our list. Experts predict a new increase in borrowing amid the economic downturn, so that by the end of the year the level of public debt is likely to be about 160% of GDP. The country's gross domestic product is declining by about 1% per year. One resident of Greece today has $ 43.5 thousand of public debt.
1. Japan is the leader in the ranking of countries in terms of public debt (211% of GDP).
After the tsunami and the accident at Fukushima Station, Japan incurs significant costs, which are covered mainly by domestic borrowing. The country's external debt is about 46% of GDP. The debt burden per inhabitant of the country is $ 105 thousand. In fairness, it should be noted that Japan is a world leader in the volume of international reserves, which, if necessary, will be able to cover about 10% of debts.
