Fiscal support amid pandemic pushes global public debt to 99% of GDP

Politics Economy

Global public debt is estimated to reach nearly 99 percent of the world's gross domestic product this year, as many countries have taken robust fiscal actions to weather the impact of the coronavirus pandemic, the International Monetary Fund said Wednesday. Support for health care systems, households and businesses has reached around $16 trillion since the pandemic began to accelerate in early 2020, the Washington-based institution said in its semiannual Fiscal Monitor Report, using data through March 17 this year. Global public debt climbed to 97.3 percent of GDP in 2020, a surge of 13 percen...

Kyodo News

Kyodo News