According to the updated forecast from the International Monetary Fund, global national debt could exceed 100% of the world’s GDP by the end of 2029, setting the highest level since 1948. The October Fiscal Monitor report indicates that this scenario is significantly worse than previously anticipated before the coronavirus pandemic, and in the worst-case scenario, the debt burden could reach 124% of GDP by 2029.
This is reported by Finway
Debt Growth in Major World Economies
In most key economies, national debt has already exceeded or will soon exceed 100% of GDP. This category includes countries such as Canada, China, France, Italy, Japan, the United Kingdom, and the United States. This trend indicates a deterioration in fiscal stability at the global level.
Ukraine: Rapid Growth of National Debt After 2022
Ukraine’s national debt is also showing dynamic growth and is at risk of exceeding 110% of GDP as early as 2026. Before the onset of the full-scale war, Ukraine managed to reduce the debt-to-GDP ratio to 48.9%. However, due to the consequences of military actions and economic shocks, this figure is expected to rise to 108.6% by 2025 and exceed 110% in 2026, according to IMF estimates. In the following years, a gradual decrease in the debt share of GDP is projected.
The global national debt will exceed 100% of global GDP by the end of 2029. In this case, this figure will reach a record level since 1948, the IMF reported in the October Fiscal Monitor report.