S&P forecasts global debt growth of up to $ 200 trillion

News

S&P forecasts global debt growth of up to $ 200 trillion

07.12.2020 News

World debt will reach $ 200 trillion, which is 265% of world product, but the debt crisis is not yet expected. This was reported by Reuters, citing the forecast of analysts of the international rating agency S&P Global.

It is claimed that this year the debt-to-world debt ratio has risen by 14% as a result of the pandemic. But the upward trend in the share was observed before, the corona crisis only exacerbated it. This is due to the fact that at all levels – from governments, companies and households – there is a need for credit due to the economic downturn.

Although analysts do not see this as a future debt crisis.

“The expected increase in the share of debt in world GDP in 2020 is unlikely to cause a debt crisis in the near future. Economies are recovering, vaccines are already being delivered, interest rates remain low and debt behavior is returning to normal,” S&P Global said.

If the world economy continues to recover, the global debt-to-GDP ratio will fall to 256% by 2023.

The company notes that after the recession, a general reduction in the debt of governments, corporations and households is typical.

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