WASHINGTON, April 17. /TASS/. The state debt level of all the countries moved up last year to 93.2% of the global GDP, the International Monetary Fund (IMF) said in its report.

According to the report, this indicator "remained 9 percentage points above the prepandemic level."

"The increase was led by the two largest economies, United States and China, where debt rose by over 2 and 6 percentage points of GDP respectively," IMF noted.

According to IMF forecasts, the state debt of China will reach 88.6% of GDP in this year and will continue growing to 101.8% of national GDP in 2027 and to 110.1% of GDP in 2029. The Fund expects the Russian state debt to grow from 20.8% of domestic GDP in 2024 to 24% in 2029.

The global state debt level will climb to 99% of GDP by 2029, driven by the rise in the state debt in China and the United States, IMF added.