Almost all developed countries regularly face budget deficits. The borrowings that the state carries out to cover the deficit form the country's national debt.
Our today's rating of countries by the level of public debt compiled according to the data of the Ukrainian information and analytical center FOREX CLUB. The top ten includes not only the countries of the crisis Eurozone, but also traditionally more prosperous Canada and Japan, as well as Singapore. By the way, Russia's public debt in percentage terms looks more modest than that of the rating participants and amounts to about 10% of GDP.
10.Germany owes about 80% of GDP
Europe's main economy is borrowing heavily enough to prevent an economic downturn. Germany's national debt is $ 2,915 billion, which is about $ 30,000 per citizen. In the pre-crisis years, the share of public debt did not exceed 67% of GDP.
9.Canada owes approximately $ 1,475 billion, or 85% of its own GDP
Until the end of this year, the country's government predicts a 2% decline in this indicator. Per Canadian, the debt exceeds $ 42,000.
8. France has a public debt of $ 2394 billion, or 87% of GDP
Analysts' forecasts regarding the dynamics of this debt are disappointing - by the end of the year the amount will grow and amount to about 90% of GDP. Per citizen, the country's debt will be just under $ 38 thousand.
7. Belgium
Increasingly mentioned among the unstable countries of the Eurozone, financial stability ratings show a downward trend. The state's national debt is 101.8% or $ 505 billion. By the end of the year, the debt may increase to 105% of GDP. Per one Belgian, the national debt is more than $ 46 thousand.
6. USA is the first non-European country in our ranking
The US government debt is 103% of GDP. The volume of borrowings increased significantly in comparison with 2005, when the national debt was about 40% of GDP. Today, one American accounts for almost $ 50 thousand of debt, and analysts predict only an increase in this indicator. Over the year, US government borrowings are 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, this country with the most affordable real estate... Experts predict that by 2015 the US national debt will surpass the $ 20 trillion bar.
5.Singapore keeps the level of public debt at 106% of GDP
Experts believe that Singapore's position in the ranking will improve as the country's economy shows growth. In the meantime, one citizen of Singapore accounts for about $ 50 thousand dollars of national debt - according to 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 an indicator of the level of public debt in the amount of 107% of GDP.
The banking sector of the country is in an obvious crisis, which, together with general European problems, negatively affects the volume of borrowings. Until 2008, Ireland's debt did not exceed 30% of GDP, while experts predict an increase of up to 120% in the next year or two. In terms of the size of the national debt per capita, Ireland is second only to Japan.
3. Italy closes the top three in today's rating
The level of public debt in the country is 123% of GDP. For every Italian today there are about $ 43,000 in government borrowings. True, the Italian economy demonstrates growth of about 7% per year, so a significant increase in the share of public debt to GDP is not expected. Analysts predict an increase of 1-1.5% by the end of this year.
2 Greece teeters on the brink of default
- public debt in the first quarter of this year amounted to 132.4% of GDP. In 2011, this figure was higher - 143%, however, part of the debt was written off or repaid. it closest country to default 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 country's gross domestic product is shrinking by about 1% per year. One resident of Greece today accounts for $ 43.5 thousand of public debt.
1. Japan is the leader in the ranking of countries in terms of public debt (211% of GDP).
After the tsunami and the accident at the Fukushima station, Japan incurs significant costs, which it covers mainly through domestic borrowing. The country's external debt is about 46% of GDP. The debt burden per one resident of the country is $ 105 thousand. In fairness, it should be noted that Japan is the world leader in terms of international reserves, which, if necessary, can cover about 10% of debts.