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Fitch Forecasts Developed Market Debt at $75.8T
Fitch expects the total government debt in advanced markets to reach $75.8 trillion by the end of this year, marking a new record level due to ongoing budget deficits, geopolitical tensions, and rising public expenditure. Debt is projected to increase by $4.2 trillion this year, bringing the total debt close to 104% of GDP, compared to 68% twenty years ago. The top ten economies account for $69 trillion of debt, representing about 114.5% of their combined GDP. It is anticipated that the highest deficits will be in the United States at 7.8% of GDP, followed by France at 5%, and the United Kingdom at 4.8%.
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