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The IMF Expects Global Public Debt Will Rise This Year To A Record
Global public debt will rise this year to a record nearly 100 percent of the world's gross domestic product (GDP), the IMF expects.
Yazar: Tom Roberts
Yayınlanma: 15 Ekim 2020 02:28
Güncellenme: 22 Aralık 2024 16:53
The IMF Expects Global Public Debt Will Rise This Year To A Record
Global public debt will rise this year to a record nearly 100 percent of the world's gross domestic product (GDP), the International Monetary Fund (IMF) expects. The reason is high government spending to combat the new coronavirus pandemic. However, this sharp rise in debt could only be one-off, as economic expansion picks up next year. In its report on the evolution of public finances, the IMF forecasts that budget deficits will jump by almost 9 percentage points this year to 12.7 percent of GDP from 3.9 percent of GDP last year. The IMF's head of fiscal affairs, Vítor Gaspar, said that we will see a sharp increase in global public debt this year. Debt should stabilize after 2021 and even decline slightly in 2025. According to Gaspar, economic growth and extremely low interest rates will help ease primary budget deficits. The IMF also called on governments to take advantage of low interest rates and invest in infrastructure. An increase in public infrastructure investment of 1 percent of GDP can increase GDP by 2.7 percent and create 20 million to 33 million jobs.İLGİLİ HABERLER
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