What is Russia's debt to GDP?
Public debt in Russia averaged 15.4% of GDP in the decade to 2022, below the average of 32.5% of GDP for Eastern Europe. Public debt in Russia was 18.9% of GDP in 2022.
According to the Bank of Russia's estimate, external debt of the Russian Federation as of March 31, 2024 totaled $304.0 billion, having decreased by $12.8 billion, or by 4.1%, since the end of 2023.
- Japan. Japan has the highest percentage of national debt in the world at 259.43% of its annual GDP. ...
- United States. ...
- China. ...
- Russia.
Public Debt in Ukraine
Public debt averaged 64.0% of GDP in the decade to 2022, above the average for Eastern Europe of 32.5% of GDP. Public debt in Ukraine was 78.5% of GDP in 2022.
As of March 2023, the Japanese public debt is estimated to be approximately 9.2 trillion US Dollars (1.30 quadrillion yen), or 263% of GDP, and is the highest of any developed nation. 43.3% of this debt is held by the Bank of Japan.
Russia divested from all US bond instruments, the only debts the Federal government has, and still owes the US and other investors nearly 300 billion US Dollars. The national debt in Russia was forecast to increase between 2023 and 2028 by in total 16.1 billion U.S.
In 2023, aggregate local government debt had risen to 92 trillion yuan ($12.58 trillion) and the central government of People's Republic of China ordered its banks to roll over debts in a debt-restructuring. China's gross external debt in 2023 was $2.38 trillion.
In total, other territories hold about $7.4 trillion in U.S. debt. Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion. In isolation, this $7.4 trillion amount is a lot, said Scott Morris, a senior fellow at the Center for Global Development.
| Characteristic | National debt in relation to GDP |
|---|---|
| Macao SAR | 0% |
| Brunei Darussalam | 2.06% |
| Kuwait | 3.08% |
| Hong Kong SAR | 4.27% |
With $1.1 trillion in Treasury holdings, Japan is the largest foreign holder of U.S. debt.
How rich is Russia 2024?
The 2024 budget expects revenues of 35 trillion rubles ($349 billion) with expenditure of 36.6 trillion, based on a Urals oil forecast of $71.30 per barrel, a 90.1 rubles to 1 USD exchange rate and inflation of 4.5%. Defence spending will double to 10.78 trillion, 29.4% of expenditure.
Japan's public debt stands at more than twice the size of its economy, by far the worst among industrial world. The latest estimate shows that the government will be saddled with record outstanding debt of 1,244.68 trillion yen at the end of March 2034.
The Joe Biden administration and the U.S. Congress have directed about $75 billion in assistance to Ukraine, which includes humanitarian, financial, and military support, according to the Kiel Institute for the World Economy, a German research institute.
Germany's gross external debt amounted to €6.1 trillion at the end of the fourth quarter 2023; relative to gross domestic product (GDP) it remained unchanged in the period under review.
Germany National Government Debt reached 2,784.6 USD bn in Sep 2023, compared with 2,825.3 USD bn in the previous quarter.
One of the main culprits is consistently overspending. When the federal government spends more than its budget, it creates a deficit. In the fiscal year of 2023, it spent about $381 billion more than it collected in revenues. To pay that deficit, the government borrows money.
China is one of the United States's largest creditors, owning about $859.4 billion in U.S. debt. 1 However, it does not own the most U.S. debt of any foreign country. Nations borrowing from each other may be as old as the concept of money.
If China (or any other nation that has a trade surplus with the U.S.) stops buying U.S. Treasuries or even starts dumping its U.S. forex reserves, its trade surplus would become a trade deficit—something which no export-oriented economy would want, as they would be worse off as a result.
The case of debts arising from World War II is somewhat less complicated. At this time only four countries, discussed below, owe the U.S. government debts of any size arising from World War II programs to aid our allies. Other countries have paid their debts in full.
UK general government gross debt was £2,654.3 billion at the end of Quarter 3 (July to Sept) 2023, equivalent to 100.0% of gross domestic product (GDP). UK general government deficit (or net borrowing) was £39.2 billion in Quarter 3 2023, equivalent to 5.8% of GDP.
How much is Canada in debt?
Adjusted for current inflation, Canada's total provincial and federal debt increased from $1.1 trillion to $2.1 trillion between 2007-2008 and 2022-2023, according to a study by the right-wing think tank Fraser Institute(opens in a new tab).
The $34 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. Learn more about different ways to measure our national debt.
Under current policy, the United States has about 20 years for corrective action after which no amount of future tax increases or spending cuts could avoid the government defaulting on its debt whether explicitly or implicitly (i.e., debt monetization producing significant inflation).
What countries does the U.S. owe money to in 2021? The United States owes money to many countries, including Japan, mainland China, the U.K., Ireland, Luxembourg, Brazil, Switzerland and Belgium, among others.
The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).
