G20 countries — the largest economies in the world, accounting for about 85% of global GDP. National (government) debt #USNationalDebt reflects the sum of all government obligations to domestic and external creditors. Below is an overview of the level of public debt in major G20 countries (data averaged as of 2024–2025 and presented as a percentage of GDP):
🇯🇵 Japan — ≈ 255% GDP (the highest debt in the world)
🇮🇹 Italy — ≈ 140% GDP
🇺🇸 USA — ≈ 125% GDP
🇫🇷 France — ≈ 110% GDP
🇬🇧 United Kingdom — ≈ 100% GDP
🇨🇦 Canada — ≈ 95% GDP
🇮🇳 India — ≈ 85% GDP
🇧🇷 Brazil — ≈ 80% GDP
🇰🇷 South Korea — ≈ 55% GDP
🇨🇳 China — ≈ 80% GDP (officially lower, but considering hidden debts — higher)
🇷🇺 Russia — ≈ 20% GDP (one of the lowest levels)
🇩🇪 Germany — ≈ 65% GDP
Australia, Mexico, South Africa, Argentina, Saudi Arabia, Indonesia — on average from 40 to 90% GDP
What the growth of public debt leads to:
Increasing public debt can become a tool for economic growth, especially during crises. However, in the long term, excessive debt leads to:
- rising interest rates and inflation;
- increased tax burden;
- decreased trust in the national currency;
- risks of default or restructuring;
- budget restrictions on healthcare, education, and infrastructure.
Conclusion: sustainable debt growth without comparable GDP growth is a troubling signal for the economy, especially in countries with already high debt loads.