According to the IMF (International Monetary Fund) the top 10 states with the largest public debt would be the following
- United States: 18.237 billion – 103.184% (Debt/GDP) -2017
- Japan: 10.557 billion – 236.388%
- Italy: 2.407 billion – 131.454%
- UK: 2.345 billion – 87.029%
- France: 2.173 billion – 96.956%
- China : 1.684 billion – 65.680%
- Germany : 1.544 billion – 64.137%
- Holland : 475 billion – 56.658%
- Belgium: 435 billion – 102.184%
- Austria: 305 billion – 78.833%
To understand how much it represents a problem for the country its debt divides its GDP for its debit. Generally when this percentage exceeds 100% it starts to be a big problem and here you are the top 16 of the states with the highest debt/GDP.
(debt as a percentage of GDP)
With a debt / GDP at 236% Japan is the state with the highest value and in any case it is preparing to bring the deficit/ GDP to 10%. The fact is that Japan has 2 advantages over many other states: 1)it has its own currency and can therefore allow itself to have more money printed by the Bank of Japan. 2) Almost all of the public debt is held by Japanese citizens and interior investors.
After the economic crisis, Greece found itself on the edge of the collapse, the ratings agency Fitch had almost for sure its default and had it not been for important cuts in spending and aid from the EU probably Greece would have made the end of ‘Argentina. However, the debt is still very high today and the economy is not booming so it is now up to the government to get the Greek economy going for the better.
Despite the fact that it rose from 185.19% in 2006 to 132.4% in 2017, it is too high this debt for a state whose economy is not very solid and stable.
Despite the fact that it rose from 185.19% in 2006 to 133,8% in 2017, it is still too high a debt for a state whose economy is not very solid and stable.
Italy – 131.4%
Italy saw a sharp increase in its public debt when in 2005 it was 105.8% up to 2017 with 131.2%. The EU has always expressed concern and also recently with the proposal to bring the deficit / GDP for 2019 to 2.4%, far from the 0.9% expected by the last government. But if you look it would also be relatively low compared to other years:
2014 – 3.0%
2015 – 2.6%
2016 – 2.5%
2017 – 2.4%
2018 – 2.0%
2019 – perhaps 2.4%
This small African state despite its debt fell from 140.6% in 2006 to 116,1% in 2017 but remains unsustainable for a state like Gambia.
A number of aid from the MFI and other 14 major donors to the Mozambican government were removed after it was discovered that Mozambico had hidden 1 billion in debt.
Giamaica – 115,2%
Jamaica has seen a decline from 117.12% in 2006 to 115,2% in 2017.
This city-state has seen its debt increase since 2006 when it had 85.1% up to 2017 with 112%.
This state has seen its debt grow not little since 2006 when it was at 82.4% until 2017 with 110,2%.
Cipro – 108%
Cyprus has seen an impenazione of its own debt, in 2006 it had a debt / GDP equal to 59.6% and instead in 2017 it was peer to 108%. All of this was contributed by the fact that in 2013-2014 They asked for a 10 billion euro rescue package to the EU.
Stati Uniti: 103.1%
US debt hit the record $ 21.21 trillion at the end of June and continues to grow. Furthermore, after the fiscal reform by Donald Trump, the Federal Reserve System expressed its concern about the sustainability of the debt in the future.
70% of the US debt is owned by domestic investors and the remaining 30% by foreign investors:
–Cayman Islands 0.9%
–Hong Kong 0.9%
The meotodo of how Belgium has managed to drastically reduce its debt from 130.5% in 1995 until to 102.184% in 2017 is a study of many people, associations and universities. One of these methods were:
–Spending review in the public administration and in the defense
-Setting the taxation from work to consumption
– Advance primary around 5-5.5%
– Sale of public assets such as gold held by the Belgian Central Bank.
Mauritania – 99,6%
This West African state with a very critical economy, with around 45% of the population living on less than 2 US dollars a day.
Its debt has had a pico when since 2000 had the deficit / GDP ratio to 234.4% up to 2006 when I present a 71.3% that however has risen not with the same speed with which it is reduced to the percentage of 99,6% in 2017
It was also noted that one of the reasons for the increase in debt could be caused by the 30% drop in the price of iron ore representing 50% of the country’s exports.
Spain – 99.3%
The Spanish economy is not the best in the EU. This can be understood only by looking at the unemployment that only in February 2018 stood at 16.1% and a strong corruption still persists within the Iberian Peninsula.