In September 2024, the national debt of the United States had risen up to 35.46 trillion U.S. dollars. The national debt per capita had risen to 85,552 U.S. dollars in 2021. As represented by the statistic above, the public debt of the United States has been continuously rising. U.S. public debt Public debt, also known as national and governmental debt, is the debt owed by a nations’ central government. In the case of the U.S., national debt is owed by the federal government to Treasury security holders. Generally speaking, government debt increases with government spending, and can be decreased through taxes. During the COVID-19 pandemic, the U.S. government increased spending significantly to finance virus infrastructure, aid, and various forms of economic relief. International public debt Venezuela leads the global ranking of the 20 countries with the highest public debt in 2021. In relation to the Gross Domestic Product (GDP), Venezuela's public debt amounted to around 306.95 percent of GDP. Eritrea was ranked fifth, with an estimated debt of 170 percent of the Gross Domestic Product. The national debt of the United Kingdom is forecasted to grow from 87 percent in 2022 to 70 percent in 2027, in relation to the Gross Domestic Product. These figures include England, Wales, Scotland as well as Northern Ireland. Greece had the highest national debt among EU countries as of the 4th quarter of 2020 in relation to the Gross Domestic Product. Germany ranked 13th in the EU, with its national debt amounting to 69 percent of GDP in the same time period. Tuvalu was one of the 20 countries with the lowest national debt in 2021 in relation to the GDP, while Macao had an estimated level of national debt of zero percent, the lowest of any country. The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance.

In October 2024, the public debt of the United States was around 35.46 trillion U.S. dollars, a slight decrease from the previous month. The U.S. public debt ceiling has become one of the most prominent political issues in the States in recent years, with debate over how to handle it causing political turmoil between Democrats and Republicans. The public debt The public debt of the United States has risen quickly since 2000, and in 2022 was more than five times higher than in 2000. The public debt is the total outstanding debt that is owed by the federal government. This figure comprises debt owed to the public (for example, through bonds) and intergovernmental debt (debt owed to various governmental departments), such as Social Security. Debt in Politics The debt issue has become a highly contentious topic within the U.S. government. Measures such as stimulus packages, social programs and tax cuts add to the public debt. Additionally, spending tends to peak during large global events, such as the Great Depression, the 2008 financial crisis, or the COVID-19 pandemic - all of which had a detrimental impact on the U.S. economy. Although both major political parties in the U.S. tend to blame one another for increases in the country's debt, a recent analysis found that both parties have contributed almost equally to national expenditure. Debate on raising the debt ceiling, or the amount of debt the federal government is allowed to have at any one time, was a leading topic in the government shutdown in October 2013. Despite plans from both Democrats and Republicans on how to lower the national debt, it is only expected to increase over the next decade.

Public sector net debt amounted to 95.8 percent of gross domestic product in the United Kingdom during the 2024/25 financial year, or 90 percent when the Bank of England is excluded. UK government debt is at its highest levels since the early 1960s, due to a significant increase in borrowing during the COVID-19 pandemic. After peaking at 251.7 percent shortly after the end of the Second World War, government debt in the UK gradually fell, before a sharp increase in the late 2000s at the time of the global financial crisis. Debt not expected to start falling until 2029/30 In 2024/25, the UK's government expenditure was approximately 1.28 trillion pounds, around 44.7 percent of GDP. This spending was financed by 1.13 trillion pounds of revenue raised, and 151 billion pounds of borrowing. Although the UK government can still borrow money in the future to finance its spending, the amount spent on debt interest has increased significantly recently. Recent forecasts suggest that while the debt is eventually expected to start declining, this is based on falling government deficits in the next five years. Government facing hard choices Hitting fiscal targets, such as reducing the national debt, will require a careful balancing of the books from the current government, and the possibility for either spending cuts or tax rises. Although Labour ruled out raising the main government tax sources, Income Tax, National Insurance, and VAT, at the 2024 election, they did raise National Insurance for employers (rather than employees) and also cut Winter Fuel allowances for large numbers of pensioners. Less than a year after implementing cuts to Winter Fuel, the government performed a U-Turn on the issue, and will make it widely available by the winter of 2025.

The United States recorded a Government Debt to GDP of 124.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This dashboard is part of SDGs Today.Please see sdgstoday.orgTo address the economic and social challenges posed by the COVID-19 pandemic, governments are using fiscal measures, including additional expenditure and liquidity support, that have different budgetary and debt-related implications. The International Monetary Fund (IMF) compiles a database on fiscal measures announced by 141 different governments in response to the COVID-19 pandemic. The database categorizes different types of fiscal support. Above-the-line measures are reflected in the fiscal balance and government debt and include additional spending, capital grants and targeted transfers, or tax relief measures. Below-the-line measures involve the creation of assets, such as loans or equity in firms. Government guarantees granted to banks, firms, or households usually have no immediate upfront cost in the form of deficit or debt, but they create a contingent liability, with the government exposed to future calls on guarantees which could increase public debt. Numbers in the database represent IMF estimates and are considered preliminary. As of December 31st 2020, total fiscal support announced across all measures and all 141 countries amounted to USD 13.9 trillion.

After decreasing from 2015 to 2019, reaching 1.11 trillion Swedish kronor, it increased again in 2020 following the COVID-19 pandemic. The national debt fell slightly again the following years. In 2023, Sweden's national debt made up 16 percent of its GDP. Central government budget balance The central government debt is determined by the budget balance, which was 164 billion Swedish kronor in 2022. That year, the central government expenditure was over 1.1 trillion Swedish kronor. The Swedish government spent the highest sum on general aid to local municipalities. Central government income The largest source of central government income comes from direct tax from labor, which amounted to over 715 billion Swedish kronor in 2022. The second highest income source was consumption and input tax.

Key information about Argentina National Government Debt

• Argentina National Government Debt reached 460.1 USD bn in Sep 2024, compared with 442.5 USD bn in the previous quarter.
• Argentina National Government Debt data is updated quarterly, available from Dec 1994 to Sep 2024.
• The data reached an all-time high of 460.1 USD bn in Sep 2024 and a record low of 74.6 USD bn in Dec 1994.

• In the latest reports, Argentina Consolidated Fiscal Balance recorded a deficit equal to 0.2 % of its Nominal GDP in Sep 2024.
• The country's Government debt accounted for 80.3 % of its Nominal GDP in Mar 2023.
• Argentina Nominal GDP reached 150.8 USD bn in Mar 2023.

In 2025, public debt in France represented 116.2 percent of the country’s GDP. According to the source, public debt in France is supposed to remain stable in the upcoming years. There was a substantial increase between 2019 and 2020 due to the Covid-19 pandemic and the French government's economic response to it. Since 2005, public debt in France is increasing making the country one of the most in debt of the European Union. A debt country Public debt, also known as national debt, appears to be the difference between what a government is receiving and spending in a year. It is the accumulation of annual budget deficits, which happened when the government was spending more than receiving. Public debt in France is increasing since 2007, while the debt interest expenditure amounted to more than 40.3 billion euros in 2023. France’s revenue and spending Most of French public debt is generated by the State, in comparison with the social security system and the regional and local authorities. The budget balance of the country has been negative for years and does not appear to reach a positive one in the future. France spends most of its budget on tax repayments and abatement, as well as on education and defense. In 2023, France’s government spent more than 1.61 trillion euros, whereas its revenue amounted to 1.45 trillion euros. Non-tax revenue collected by the state came in majority from dividends, while it collected 70 billion euros by levying taxes on income and 140 billion euros through VAT in 2016.

ABSTRACT The purpose of this article is to analyze the federal funding of the Unified Health System (SUS) to fight the COVID-19 pandemic in 2020 and during the first four months of 2021 – periods characterized as the first and second waves. Documentary research was carried out, with data available on official websites. The pandemic took hold in Brazil in February 2020, in the context of the chronic underfunding of SUS, which deepened with the strangulation of appropriations verified from the Constitutional Amendment 95/2016, which defined the ceiling on primary expenditure and the freezing of the federal floor of SUS until 2036, at the same value as the 2017 floor. This constitutional measure made it possible to deepen the fiscal austerity policy by reducing primary expenditure and public debt in relation to the Gross Domestic Product. These goals also conditioned federal funding to combat the COVID-19 pandemic in 2020 and 2021, whose budget and financial execution can be characterized as reactive and delayed. This form of execution compromised meeting the health needs of the population, in addition to harming the management of SUS in subnational government spheres.

This study provides an extensive comparison of public finance management between Tunisia and Morocco, two North African nations with similar economic characteristics but different fiscal policies and outcomes. Using an extended time series spanning 2000-2024, the paper combines theoretical frameworks with robust empirical analysis, incorporating data from the World Bank, IMF, and national sources. The regression models control for institutional quality, FDI flows, trade openness, human capital indicators, and external shocks including the COVID-19 pandemic. Employing advanced econometric techniques including GMM estimation to address endogeneity concerns, the findings demonstrate that Morocco’s fiscal management shows significantly greater efficiency, contributing to its superior economic performance compared to Tunisia. Our results, contextualized within the broader MENA region literature, suggest that differences in tax policy effectiveness, expenditure quality, and debt management explain a substantial portion of the growth divergence. Comprehensive policy recommendations are offered to improve fiscal management in Tunisia, drawing lessons from Morocco’s experience while acknowledging the institutional and structural differences between the countries.

Government debt in the United Kingdom reached over 2.8 trillion British pounds in 2024/25, compared with 2.69 trillion pounds in the previous financial year. Although debt has been increasing throughout this period, there is a noticeable jump between 2019/20, and 2020/21, when debt increased from 1.82 trillion pounds, to 2.15 trillion. The UK's government debt was the equivalent of 95.8 percent of GDP in 2024/25, and is expected to increase slightly in coming years, and not start falling until the end of this decade. Public finances in a tight spot With government debt approaching 100 percent of GDP, the UK finds itself in a tricky fiscal situation. If the UK can't reduce it's spending, or increase its revenue, the government will have to continue borrowing large amounts, increasing the debt further. Adding to the problem, is the fact that financing this debt has got steadily more expensive recently, with the government currently spending more on debt interest than it does on defence, transport, and public order and safety. Can the UK grow out its debt? After the Second World War, when the national debt reached over 250 percent of GDP, the UK managed to reduce its debt-to-GDP ratio, due to the economy growing faster than its debt over a long period of time. This is certainly the hope of the current Labour government, who are seeking to avoid significant tax and spending adjustments by strengthening the economy. Overdue investments in infrastructure and increased capital spending may eventually achieve this goal, but the government's declining popularity suggests they may not be in power by the time these policies might eventually bear fruit.

Government Debt in Canada increased to 1223.62 CAD Billion in 2024 from 1173.01 CAD Billion in 2023. This dataset provides - Canada Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The coronavirus pandemic has revived interest in the effects of fiscal policy. This paper studies the effects of government spending on default risk in emerging economies. We first build a general equilibrium small open economy model where government spending shocks influence external debt and sovereign bond spreads. We show that external debt piles up and sovereign bond spreads increase following a government spending shock. We then develop VAR evidence based on a panel of 18 countries. We find that in response to a 10% government spending increase, (1) the real effective exchange rate appreciates by 1.0% and the current account to GDP ratio deteriorates by 0.0025 on impact; (2) external debt increases by an average of 3.5% in the year following the shock; and (3) the EMBI Global spread rises by an average of 25 basis points within two years and peaks at 132 basis points 14 quarters after the shock, suggesting a higher sovereign default risk. The empirical results confirm the theoretical predictions from the general equilibrium model.

The ratio of the Swedish central government debt to its gross domestic product (GDP) fell from 2014 to 2019, before increasing again in 2020, following the outbreak of COVID-19. In 2023, the central government debt in Sweden made up 16 percent of the GDP. In 2022, the debt was over one trillion Swedish kronor.

Negative budget balance in 2020

The government debt is affected by the relationship between the central government’s expenditures and incomes. In 2021, the governments income was close to 1.2 trillion Swedish kronor, which was higher than the expenditures that amounted to just above 1.1 trillion Swedish kronor. Hence, the Swedish government had a budget balance of 80 billion Swedish kronor that year.

 Government expenditure

The expenditure of the Swedish central government increased sharply in 2020 because of the COVID-19 pandemic. Support packages to hardly affected industries and laid off employees took a toll on the Swedish national budget. The largest post of expenditure was financial support to the local municipalities, amounting to 150 billion Swedish kronor in 2021. Health care and social care was the second highest post, followed by health- and social care.

In 2023, South Korea's national debt accounted for approximately 46.9 percent of the country's gross domestic product (GDP), which was a slight increase from about 45.9 percent in the previous year. The debt-to-GDP ratio of South Korea has been slowly but steadily increasing over the years. With the implementation of emergency relief funds and increased government spending during the COVID-19 outbreak in 2020, it was expected that the debt ratio would continue to grow in the future.

Albania is gradually emerging from the unprecedented economic disruptions caused by the coronavirus disease 2019 (COVID-19) pandemic. As the pandemic is overcome, it is crucial to shift attention back to Albania’s long-term objective of building a stronger underlying economic growth model. This country economic memorandum (CEM) highlights 4 key priorities to help Albania identify the next steps in its structural reform agenda. Albania needs to refocus attention on the pre-crisis reform agenda and accelerate long-term economic growth, including by spurring productivity growth, building human capital, and supporting investment. On the labor supply side, this means investing in people and supporting workers’ transition to better employment (Priority 1), while on the labor demand side, this means accelerating firm productivity growth and creating better job opportunities (Priority 2). But Albania should also use the current crisis to set its aspirations higher. Beyond achieving higher economic growth, policymakers need to strengthen the quality of the country’s socioeconomic development model. Through more green, resilient, and inclusive development (GRID), Albania can ensure the sustainability of economic growth (Priority 3). Foundationally, this CEM highlights the need for Albania to create fiscal space to support its growth priorities (Priority 4). The COVID-19 crisis has driven public debt to new heights, and upgrading Albania’s growth model - including by implementing many of the reforms presented in this CEM - will require further public spending.

Cabo Verde’s climate exposure, partly also because of its geography, is compounded by economic vulnerabilities. The country has experienced robust economic growth since the early 1990s and achieved a substantial reduction in poverty, but growth has been volatile and has slowed in recent years. Reflecting the comparative advantage of its attractive natural geography, growth has primarily been driven by the tourism sector, which accounts for a quarter of gross domestic product (GDP), over half of exports, and most foreign direct investment. For similar reasons, the archipelago is heavily reliant on imports, notably those of fuel and food. High levels of remittance and concessional international financing serve to bridge its external financing needs, but they generate additional external vulnerabilities. Adding to this, although recurrent fiscal deficits have recently resorbed, public spending is rigid, and public debt remains above 100 percent of GDP. The COVID-19 pandemic put Cabo Verde’s external vulnerabilities on display, causing a steep decline in tourism revenue and a surge in the food and fuel import bill before the economy returned to pre-pandemic conditions in 2023. This CCDR analyzes how Cabo Verde can build climate resilience and stimulate low carbon development, while identifying key enablers. The Country Climate and Development Report (CCDR) estimates the projected economic and social damage from climate change in chapter 1. The report then proceeds to a discussion of the country’s relevant institutional and legal framework in chapter 2, the main ways in which a climate-resilient economy can be achieved at the water-land nexus and through the blue economy and infrastructure systems in chapter 3, the green transition in the energy, transport, waste, and digital sectors in chapter 4, the core actions to support the private sector and people to become more climate shock-resilient though social protection, and finally, the skills needed for, and the strengthening of, the health system in chapter 5. Chapter 6 brings together the recommendations presented in the earlier chapters, estimating their costs and benefits and modeling their effects on the economy.

How the government of Maldives chooses to spend state revenues has consequences for the country’s future Decisions on what, where, how, and how much governments spend on have a significant impact on a country’s growth and development. Allocating resources efficiently and effectively across atolls can ensure that all Maldivians, no matter where they live, have good access to services. The Maldives Public Expenditure Review (MPER) aims to help the government identify reforms to reduce fiscal and debt vulnerabilities and thus ensure a more secure, sustainable, and inclusive future. Although Maldives has bounced back strongly from the Coronavirus (COVID-19) pandemic, the shock has illuminated longstanding vulnerabilities in the tourism-dependent economy. With public and publicly guaranteed debt at unprecedented levels, any sudden stop in external financing and/or a materialization of fiscal risks, such as from natural disasters, climate change, or a bailout of state-owned enterprises (SOEs) could lead to a costly and sudden macroeconomic crisis. To avoid such a situation in Maldives, the MPER recommends policy actions in several expenditure areas, namely: (i) public infrastructure, (ii) health, (iii) SOEs, (iv) public housing, (v) the public sector wage bill and (vi) pensions.

This background note is one of several analytical contributions to the 2021 Albania country economic memorandum (CEM). The CEM is a World Bank flagship report that aims to help Albania identify next steps in its structural reform agenda. As set out in the CEM, Albania needs to refocus attention on the pre-crisis reform agenda and accelerate its long-term economic growth rate, including by spurring productivity growth, building human capital, and supporting investment. On the labor supply side, this means investing in people and supporting workers in their transitions towards better employment. On the labor demand side, this means supporting firm productivity growth and the creation of better job opportunities. Beyond higher economic growth rates per se, however, the quality of the development model needs to strengthen. Through more green, resilient and inclusive development (GRID), Albania can ensure that growth gains will be more sustainable. Finally, the CEM highlights the need for Albania to rebuild its public finances. The Coronavirus disease 2019 (COVID-19) crisis has driven public debt to new heights. Upgrading Albania’s growth model - including implementing many of the reforms presented in the CEM - will require further spending. In this context, increasing the fiscal space available to Albania needs to be a priority.

■Purpose and Outline (Summary): The purpose of this project is to support business growth and revitalize businesses to prevent them from going out of business and to strengthen the financial base of Small and Medium-Sized Enterprises companies affected by the novel coronavirus by providing interest subsidies when they use equity subordinated loans to address the novel coronavirus. ■ Purpose and Overview: The purpose of this project is to support business growth and revitalize businesses to prevent them from going out of business and to strengthen the financial base of Small and Medium-Sized Enterprises companies affected by the novel coronavirus by providing interest subsidies when they use equity subordinated loans.

Eligible Loan Schemes

Eligible Loan Schemes refer to the following capital subordinated loans to address COVID-19. (For details on the novel coronavirus capital subordinated loans, please contact the following financial institution.)　　　

　　Japan Finance Corporation (Hereinafter, "JFC")

　　Special Capital Enhancement Loans to Support COVID-19 Challenges (National Project)

　　Special Capital Enhancement Loans to Support COVID-19 Challenges

　　The Shoko Chukin Bank (Hereinafter, "Shoko Chukin")

　　Subordinated Crisis Operations Capital Loans (Small and Medium-Sized Enterprises Plan)

Subsidised Projects and Expenses

The projects and expenses covered by grant are the committed interest payments under the Subsidised Loan Facility.

Subsidy Amount, etc.

The subsidy amount for the interest subsidy shall be limited to 63,000 JPY per month within budget for grants of the City, out of the contracted interest paid to the JFC or the Shoko Chukin Bank during the period from April 1 of each year to March 31 of the following year as calculated for the amount lent under the Eligible Loan Scheme.

Subsidy Period

The subsidy period for interest coverage is 36 3 years from the month of the first contracted interest date.

However, the period covered by the subsidy after FY 2021 is assumed to be the formation of budget for grants in that fiscal year.

Schedule (Expected)

Friday, January 29, 2021 at 17: 00 　Application deadline

By mid-February 2021 　　　　　Grant Decision

End of 3 2021 　　　　　　　　Business Performance Report

circa 4 2021　　　　　　　　grant's Claims and Payments

Submissions

Submissions should be as follows and completed in Japanese.

(1) Fukuoka City New Coronavirus Countermeasure Capital Subordinated Loan Interest Subsidy Application for grant (Form No. 1)

(2) Fukuoka City New Coronavirus Countermeasure Capital Subordinated Loan Corporate Profile (Form No. 2)

(3) Fukuoka City New Coronavirus Countermeasure Capital Subordinated Loan Confirmation Document, etc. (Form No. 3) or a copy of the document issued by the JFC or Shoko Chukin Bank that contains all the items of Form No. 3

(4) A copy of the business plan submitted to the JFC or Shoko Chukin Bank

(5) Certificate of all personal history within 3 months after issuance (certified copy of corporate registry)

(6) List of officers

Deadline and method of submission

[Deadline]

　　By 17:00, Friday, January 29, 2021.

[How to Submit]

Please download the required application form from this page and submit the completed data.

• The submission will not be returned. The submitted documents will not be used for purposes other than this project.

• To apply from this page, a gBizID Prime account of GBizID is required. Please register in advance.

• We do not accept applications submitted by e-mail in order to prevent erroneous delivery. We appreciate your understanding in advance.

• Applications can also be submitted by mail or in person. Please check the reference URL for details.

  Remarks: (1) All costs for each application shall be borne by the applicant.

  (2) No questions will be accepted regarding the grant or non-grant of Interest Subsidy grant.

  (3) Certification may be withdrawn even after certification has been granted, if you submit an application that does not meet the requirements, if your submission is false, or if you fail to follow the required procedures.

  (4) Even if a grant is approved, the grant amount may be reduced for reasons such as the city's budget for grants.

  (5) Interest Subsidy grant will be paid after the City receives the project report and after the actual results of the project and details of expenditure can be confirmed by documentary evidence.

  (6) Grant requests will be made on a first-come, first-served basis and interest subsidy amounts will be awarded within the city's budget for grants.

■ Contact: About grant

Department: Start-up Support Division, Start-up and Location Promotion Department, Economic, Tourism and Cultural Affairs Bureau, Fukuoka City Hall

Address: 1-chome, Tenjin, Chuo-ku, Fukuoka, 8, 1

Telephone: 092-711-4455

Fax: 092-733-5901

About grant Application System (jGrants), GBiz ID

Fukuoka Support Center

Telephone: 080-6400-5539 or 080-6400-5569

■ Reference URL: https://www.city.fukuoka.lg.jp/keizai/r-support/business/subordinated_loan_subisdy.html ,