Global public debt surpasses $100 trillion, outpacing economic growth

Shafaq News/ The global public debt (government debt) exceeded $100 trillion at the end of 2023, with the index growing faster than the growth of the global economy, according to a study by the Novosti agency.

In 2023, global public debt rose by 5.8% to reach $101 trillion, while global gross domestic product grew at a slower pace of 4.2% to reach $105.4 trillion.

Global public debt reached 95.8% of global GDP, up from 94.5% in 2022.

The United States holds the largest share of global public debt at $37.5 trillion, accounting for 35.6% of the global economy. China follows with $14.9 trillion, or 14.1% of global GDP.

The public debt of the two countries increased in 2023 by 6% and 8%, respectively.

The Novosti agency analyzed the performance of 178 economies in 2023 using World Bank and IMF data, considering central government, regions and municipalities' debts.