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US state debt may exceed 120% of GDP next year — Fitch

At this point, the US state debt burden exceeds $39.1 trillion

NEW YORK, May 1. /TASS/. International ratings agency Fitch Ratings projects the US state debt to top 120% of the country’s GDP by 2027.

"We expect a general government (GG) deficit of 7.9% of GDP this year and next, pushing already high GG debt above 120% by next year in our baseline," the report says.

At this point, the US state debt burden exceeds $39.1 trillion, which is over $114,000 per each citizen of the country.

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