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.