Pressures on the economy by new US duties will push world public debt over the levels of the pandemic period to almost 100% of world GDP by the end of the decade, as growth and trade are under pressure on government budgets today. The latest IMF Fiscal Monitor predicts that global public debt will increase by 2.8 percentage points reaching 95.1% of world GDP in 2025. The upward trend is likely to continue, reaching 99.6% of world GDP by 2030. GDP as the governments have lent a large borrowing for the restoration of Covid-19 and the production was shrinking. Debt declined ten percentage points within two years. But it begins to grow again and the last prediction shows its acceleration. ‘Important announcements for duties from the United States, countermeasures from others […]
Source: News Beast
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