FT reported on the high level of US government debt among developed countries

For the first time in the 21st century, the US national debt will exceed that of Italy and Greece. This was reported on October 27 by the Financial Times (FT) newspaper.

According to the forecast of the International Monetary Fund (IMF), by the end of the decade, the debt-to-GDP ratio in the United States will reach 143.4%, an increase of more than 20% — a record level among developed economies.

The article emphasizes that the federal budget deficit will exceed 7% of GDP annually until 2030, which is significantly higher than in other high-income countries.

"This is a symbolic moment and a consequence of the chronic budget deficit," said Mahmoud Pradhan, head of Global Macroeconomics at Amundi Investment Institute.

For comparison, Italy and Greece, previously considered the most heavily indebted countries in Europe, on the contrary, are reducing their debt burden: Rome plans to end the year with a primary surplus of 0.9% of GDP.

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On October 23, the U.S. Treasury Department announced that the national debt of the United States exceeded the $38 trillion mark, which is a historical record. Over the past year, the debt has increased by $2.18 trillion. At the same time, the $37 trillion mark was exceeded only in August of this year.

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