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Global economic debt amounts to 300% — Putin

The Russian president said that this inevitably affected everyone

ST. PETERSBURG, June 20. /TASS/. The total debt burden of the global economy has reached 300%, Russian President Vladimir Putin said during the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"Under current conditions, as debt and overleveraging continue to rise across the global economy, with total debt now reaching 300%, this inevitably affects everyone," he said.

"We discussed tariff policy: trade between the United States and China accounts for 20% of global trade. In the current environment, where debt and overleveraging are increasing throughout the global economy, the debt level has already reached 300%, of course, this affects everyone," he said.

"As for the shadow fleet and related matters, our Chinese colleague expressed it very precisely, in my view: wherever someone attempts to strike a blow, that is exactly where we ultimately grow stronger. Why? Because we always find a response and a solution," the Russian leader emphasized.

About the forum

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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