Mar 6, 2023
TOI-Online
Japan - Debt: 221.32% of GDP
Japan's debt-to-GDP ratio is the highest in the world due to a prolonged period of economic stagnation and demographic challenges.
Image Source: Pixabay
Greece - Debt: 212.4% of GDP
Greece's debt-to-GDP ratio skyrocketed during the financial crisis in 2008 and has struggled to recover since.
Image Source: Freepik
Sudan - Debt: 181.97% of GDP
Sudan's high debt-to-GDP ratio is due to years of conflict, sanctions, and poor economic policies.
Image Source: Freepik
Eritrea - Debt: 176.25% of GDP
Eritrea's high debt-to-GDP ratio is due to years of political instability, economic sanctions, and a lack of access to international markets.
Image Source: Freepik
Singapore - Debt: 163.89% of GDP
Singapore's high debt-to-GDP ratio is partly due to the country's focus on infrastructure development and investment.
Image Source: Freepik
Italy - Debt: 146.55% of GDP
Italy's high debt-to-GDP ratio is partly due to a slow-growth economy and a large public sector.
Image Source: Freepik
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Cyprus - Debt: 142.82% of GDP
Cyprus's high debt-to-GDP ratio is partly due to excessive borrowing by the country's banks, a high level of non-performing loans, and exposure to the Greek debt crisis.
Image Source: Freepik
Cabo Verde - Debt: 142.3% of GDP
Cabo Verde's high debt-to-GDP ratio is due to weak economic policies and heavy dependence on foreign aid.
Image Source: Freepik
Barbados - Debt: 141.88% of GDP
Barbados' high debt-to-GDP ratio is due to a combination of factors, including weak economic growth, a large public sector, and significant debt servicing costs.
Image Source: Pixabay
Bhutan - Debt: 132.42% of GDP
Bhutan's high debt-to-GDP ratio is due to its heavy reliance on hydropower exports, which account for the majority of the country's export earnings.
Image Source: Freepik
Portugal - Debt: 131.92% of GDP
Portugal's high debt-to-GDP ratio is partly due to a slow-growth economy and a large public sector.
Image Source: Freepik
Bahrain - Debt: 128.5% of GDP
Bahrain’s high debt-to-GDP ratio is due to declining oil prices, weak economic growth, and high levels of government spending.
Image Source: Freepik
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