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Total global public debt expected to exceed $100 trillion in 2024 — IMF

According to the report, while debt levels are projected to stabilize or decline in about two-thirds of countries, they will still be significantly higher than projected pre-pandemic levels

WASHINGTON, October 23. /TASS/. The level of global public debt is expected to exceed $100 trillion this year and reach 93% of global GDP, according to the latest report of the International Monetary Fund (IMF).

The IMF expects the global public debt to exceed $100 trillion in 2024 (93% of global GDP) and continue to grow throughout the rest of the decade, approaching 100% of GDP by 2030. According to the report, while debt levels are projected to stabilize or decline in about two-thirds of countries, they will still be significantly higher than projected pre-pandemic levels.

According to IMF projections, China's public debt will reach 90.1% of GDP in 2024 (88.6% in April) and 111.1% in 2029 (110.1%). The US public debt will reach 121% of GDP in 2024 (123.3% in April) and grow to 131.7% (133.9%) by 2029.

The Fund expects Russia's national debt to grow to 19.9% of GDP in 2024 (according to April forecasts - 20.8%), and to 25.1% (24%) in 2029. The national debt of Ukraine will amount to 95.6% of GDP in 2024 (according to April forecasts - 94%), and by 2029 it will fall to 94% (88.2%). The Fund did not specify the exact volume of national debt of countries.

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