Rise in sovereign debt to end in 2023: S&P ANI | Updated: Feb 05, 2021 12:43 IST
Singapore, February 5 (ANI): Reflecting increased public spending to deal with the Covid-19 crisis, S&P Global Ratings has projected that median general government debt for all rated 135 sovereigns will rise by end-2021 to a record 62.6 per cent of GDP.
That compares with 49 per cent at end-2019 and 32.5 per cent at end-2008.
For the Group of Seven nations Canada, the United States, France, Germany, Italy, Japan and the United Kingdom S&P projects average government debt at end-2021 will increase to 128.7 per cent of GDP versus 106.3 per cent in 2019 and 101.3 per cent in 2008.
S&P Global Ratings Publishes ESG Overview Of Global Sovereigns
News provided by
Share this article
Share this article
PARIS, Feb. 3, 2021 /PRNewswire/ S&P Global Ratings has today published its ESG Overview: Global Sovereigns. The report discusses environmental, social, and governance (ESG) credit factors that inform our analysis of 135 sovereign governments we rate globally. ESG credit factors are important to our analysis of sovereign creditworthiness and are embedded in several of our rating factors. Changes in ESG credit factors therefore influence positively and negatively our sovereign ratings and outlooks (see How Environmental, Social, And Governance Factors Help Shape The Ratings On Governments, Insurers, And Financial Institutions, published Oct. 23, 2018, on RatingsDirect). ESG can affect a broad range of rating factors we examine to determine our sovereign ratings, as described in The Role Of Environmental, Social, And Governance Credit Factors In Our Ratings
1 Feb 2021
The burden on the British taxpayer has hit levels not seen in 70 years, yet the Treasury secretary is considering tax hikes to make up for the massive budget shortfalls incurred during the Chinese coronavirus crisis and the ensuing lockdowns.
Chancellor of the Exchequer Rishi Sunak is reportedly mulling tax hikes in response to soaring government debt, which have already reached 100 per cent of GDP. The new debt, largely incurred through furlough payments to workers forced to stay at home, could rise above £400 billion this year.
The Chancellor is said to be considering increasing the capital gains tax from 20 per cent to up to 45 per cent, an increase on fuel duties, and raising corporation tax from 19 to 24 per cent a raid on individuals and businesses to pay for the government’s coronavirus lockdown spending spree.
Request
Thank you. One of our representatives will be in touch soon to help get you started with your demo. Thank you for your interest in S&P Global Market Intelligence! We noticed you ve identified yourself as a student. Through existing partnerships with academic institutions around the globe, it s likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login. At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you,
we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you ve completed your degree. We apologize for any inconvenience this may cause.
By Reuters Staff
2 Min Read
LONDON, Jan 28 (Reuters) - Italy’s latest political crisis won’t affect the country’s sovereign credit rating for the time being, one of S&P Global’s top analysts has said.
The Italian government paid its highest borrowing costs in three-months at a bond auction on Thursday, after the resignation of Prime Minister Giuseppe Conte this week amid political turmoil in Europe’s fourth-biggest economy.
“I don’t think it’s anything necessarily particularly relevant to the policy stance in Italy yet. Of course it’s something that we’re watching though,” one of S&P’s EMEA analysts Frank Gill told Reuters.