Almost all developed countries regularly face a budget deficit. Those borrowings, which the state implements to cover the deficit, form the national debt of the country.
Our today's rating of countries on the level of public debt is compiled according to the data of the Ukrainian Information and Analytical Center FOREX CLUB.The top ten hit not only the countries of the crisis Eurozone, but also the traditionally more prosperous Canada and Japan, as well as Singapore. By the way, the state debt of Russia in percentage terms looks more modest than that of the rating participants and is about 10% of GDP.
- 10. Germany owes about 80% of GDP.
- 9. Canada should approximately $ 1,475 billion, or 85% of its own GDP.
- 8. France has a national debt of $ 2394 billion or 87% of GDP.
- 7. Belgium.
- 6. The USA is the first non-European country in our rating.
- 5. Singapore keeps the level of public debt at the level of 106% of GDP.
- 4. Ireland demonstrates the level of public debt at the rate of 107% of GDP.
- 3. Italy closes the top three leaders of today's rating.
- 2.Gretia balances on the brink of default
- 1. Japan is the leader in the rating of countries by the level of public debt( 211% of GDP).
10. Germany owes about 80% of GDP.
Europe's main economy is making serious enough borrowings to prevent an economic downturn. The public debt of Germany is $ 2915 billion, which is about $ 30 thousand per citizen. In the pre-crisis years, the share of state debt did not exceed 67% of GDP.
9. Canada should approximately $ 1,475 billion, or 85% of its own GDP.
Until the end of this year, the government of the country predicts a 2% decline in this indicator. In terms of one Canadian, the debt exceeds $ 42,000.
8. France has a national debt of $ 2394 billion or 87% of GDP.
Forecasts of analysts regarding the dynamics of this debt are disappointing - until the end of the year the amount will grow and amount to about 90% of GDP.In the calculation for one citizen, the country's debt will amount to just under $ 38 thousand.
Increasingly mentioned among the unstable countries of the Eurozone, the ratings of financial stability show a tendency to deteriorate. The state's debt is 101.8% or $ 505 billion. By the end of the year, arrears can increase to 105% of GDP.Per one Belgian, the national debt is more than $ 46,000.
6. The USA is the first non-European country in our rating.
The level of US public debt is 103% of GDP.The volume of borrowings has significantly increased in comparison with 2005, when the national debt was about 40% of GDP.Today, an American man accounts for almost $ 50 thousand of debt, and analysts predict only an increase in this indicator. During the year of state borrowing, the United States is growing by about 9%.However, it should be noted that the US economy retains growth opportunities even with such a significant debt burden, in addition, it is the country with the most affordable real estate. Experts predict that by 2015, the US national debt will exceed the bar of $ 20 trillion.
5. Singapore keeps the level of public debt at the level of 106% of GDP.
Experts believe that Singapore's position in the rating will improve, as the country's economy shows growth. Meanwhile, for one citizen of Singapore accounts for about $ 50 thousand dollars of public debt - on this indicator, the city-state equaled the United States. By the way, 91% of the country's public debt is covered by international reserves.
4. Ireland shows a national debt level of 107% of GDP.
The banking sector of the country is in a clear crisis, which, combined with pan-European problems, negatively affects the volume of borrowings. Until 2008, Ireland's debt did not exceed 30% of GDP, experts also forecast an increase of up to 120% in the next year or two. By the size of the national debt per one resident of Ireland, Ireland is second only to Japan.
3. Italy closes the top three leaders of today's rating.
The level of public debt in the country is 123% of GDP.For every Italian today there are about $ 43 thousand government borrowings. True, the Italian economy shows growth of about 7% per year, so a significant increase in the share of public debt to GDP is not expected. Analysts forecast an increase of 1-1.5% by the end of this year.
2.Gretia balances on the brink of default
- public debt for the first quarter of this year amounted to 132.4% of GDP.In 2011, this indicator was higher - 143%, however, part of the debt was written off or repaid. This is the country closest to defaulting on our list. Experts predict a new growth in borrowing amid the economic downturn, so that by the end of the year the level of public debt is likely to be about 160% of GDP.The gross domestic product of the country is reduced by about 1% per year. One resident of Greece today has $ 43.5 thousand of public debt.
1. Japan is the leader in the rating of countries by the level of state debt( 211% of GDP).
After the tsunami and the accident at the Fukushima station, Japan incurs significant costs, which is mainly covered by domestic borrowing. The external debt of the country is about 46% of GDP.The debt load per resident of the country is $ 105 thousand. To be fair, it should be noted that Japan is the world leader in terms of international reserves, which, if necessary, will cover about 10% of debts.