Government debt hits record $66 trillion, 80% of global GDP, Fitch says |

A 1/23/19 CNBC article offers key points on global government debt. Following are some noted points from the article:

  • Government debt hit $66 trillion through the end of 2018, or about 80 percent of global GDP, according to Fitch Ratings.
  • An official at the agency said the high debt levels could hamper countries as financial conditions tighten.
  • While developed market debt has stayed fairly stable since 2012, that hasn’t been the case in the U.S., which has seen its IOU surge by 44 percent.
  • Debt in developed countries has remained fairly steady, around $50 trillion, since 2012, though that’s not true of the U.S. Total public debt for the American government has jumped from $15.2 trillion to $21.9 trillion, or 44 percent, during the period, Treasury Department data show.
  • Fitch noted that the total U.S. debt is nearly 10 times the size of France, Germany, Italy and the U.K. combined.

 

 

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https://www.cnbc.com/2019/01/23/government-debt-tab-hits-66-trillion-80percent-of-global-gdp-fitch-says.html