As of june 2019, the nation with the highest debttogdp ratio is japan with a ratio of. We model our regression analysis on a standard production. How italy got in and out of the debt trap financial times. The looming storm is all down to italys mounting debt levels. It is a key indicator for the sustainability of government finance. The debt went from being bigger than the economy to the economy being five times its size. This is a list of countries by external debt, which is the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods or services, where the public debt is the money or credit owed by any level of government, from central to local, and the private debt the money or credit owed by private households or private corporations based in the country.
In the longterm, the italy government debt to gdp is projected to trend around 2. At some high debt to gdp ratio the market becomes saturated with treasury bonds, and bond revenue reaches a maximum. The next highest ratio is from greece, which at 181. The main objective of the webpage is to provide professional users with the possibility to compare core national statistics using graphical presentations. Data on italy across agriculture,development,economy,education,energy,environment,finance,government,health,innovation and technology,jobs,society find, compare and share oecd data by country. Like france, italy inflated its way out of its debts after world war ii, imposing large losses on bondholders. This statistic illustrates the government debt to gross domestic product gdp ratio in italy from 2000 to 2018.
As a share of gdp public debt has grown sharply in recent yearsfrom 70 percent in 2000 to close to 100 percent in 2009. In total, eight member states debt exceeds averages for both the eurozone the 19 states using the euro and the eus 28 member countries. A history of world debt how public debt has changed since 1880 t he global financial crisis has taken its toll on the world economy, especially on the public finances of advanced economies. According to the data, the government gross debt to gdp ratio. Such benchmarks typically come from technical work by imf staff, although these benchmarks are not necessarily officially endorsed by the imf. Spain, italy and now france, the downgrading of the united states credit rating by. Both countries find themselves far from the 60 percent debttogdp ratio target set by the european commission. Kenyas economic history and increasing public debt. Proposed prudential limits on public debt to gdp ratios play a crucial role in current debates on fiscal consolidation. As of june 2019, the nation with the highest debttogdp ratio is japan with a ratio of 253 %. The rome government sees italy s debt to gdp ratio surging to between 155% and 159% of national output this year, sources close to the matter told reuters, as.
The debt to gdp ratio is the the federal debt compared to the gross domestic product of the country. The debt to gdp ratio is the ratio of a countrys public debt to its gross domestic product gdp. General government general government debt oecd data. Italy households debt to gdp 19602019 data 20202022. Private debt to gdp in italy is expected to reach 166.
In 2017, the national debt of italy amounted to about 1. These eu countries have the most government debt world. Gdp and general government net borrowing in 2019 italian gdp chained volume increased by 0. General government debt to gdp ratio measures the gross debt of the general government as a percentage of gdp. Italy responded to the onslaught of markets with austerity measures, which made matters worse, sending gdp growth into negative territory and increasing the debt to gdp ratio. Japan and greece are the most indebted countries in the world, with debttogdp ratios of 237. The rome government sees italy s debt to gdp ratio surging to between 155% and 159% of national output this year, sources close to the matter told reuters, as it increases borrowing to mitigate. Lebanon has the next highest debttogdp ratio at 152%, followed by italy at 123. The debt to gdp ratio is a critical metric for evaluating a countrys fiscal health. Debt is calculated as the sum of the following liability categories as applicable. Italys debt is now at 2 percent of gdp, compared to greeces 175 percent. The output gap, the federal budget deficit, and the threat. General government gross debt for italy gggdtaita188n. Stock of total external debt percentage of gdp and debt service percentage of exports of goods and services figure 2.
We read every letter, fax, or email we receive, and we will convey your comments to cia officials outside opa as appropriate. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor education. Public debt and economic growth in italy request pdf. The current level of the debt to gdp ratio as of december 2019 is 106. Italy the human capital index hci database provides data at the country level for each of the components of the human capital index as well as for the overall index, disaggregated by gender. The combination of rising debt and falling gdp will raise italy s debt to gdp ratio from the current 5 per cent to between 160 and 180 per cent. Countries with the worst debttogdp ratios valuewalk. Gross debt consists of all liabilities that require payment or payments of interest andor principal by the debtor to the creditor at a date or dates in the future. Household debt to gdp for italy hdtgpditq163n fred. Get local insights from lisbon to moscow with an unrivalled network of journalists across europe, expert analysis, our dedicated brussels briefing newsletter. Now the debt to gdp ratio is making investors uncomfortable. Euro area statistics the ecb website euro area statistics is about euro area and national central bank statistics, and presents a subset of available statistics.
Italy government debt to gdp 19882019 data 20202022. Government debt as a percentage of national gdp these are lists of countries by public debt, based on data from the cias world factbook and the imf. The key concept they introduced was that simply rolling over a countrys debt, once the treasury bond yield exceeds the economys growth rate, implies an endlessly growing ratio of treasury debt to gdp. Then, maintaining the new higher debt ratio would imply an increase in the primary balance of 0. By comparing what a country owes to what it produces, the debt to gdp ratio. For developing and emerging economies, 40% is the suggested debt to gdp ratio that.
Italy public debt performance data for 20 set public debt at a ratio of 2. In economics, the debttogdp ratio is the ratio between a countrys government debt measured in units of currency and its gross domestic product gdp measured in units of currency per year. By 1976, the net debt to gdp ratio had dropped from more than 100 per cent of gdp to a fifth of that. Although italy has had a long history of running deficits, its debt gdp ratio has rarely exceeded 100% of gdp by a large margin. The statistic shows the national debt of italy from 2014 to 2017 in relation to gross domestic product gdp, with projections up until 2024. The debt to gdp ratio allows investors in government bonds to compare debt levels between countries. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. Organisation for economic cooperation and development oecd. This includes debt liabilities in the form of special drawing rights. The office of public affairs opa is the single point of contact for all inquiries about the central intelligence agency cia. In other words, taking the debt and dividing it by the gdp. Stat enables users to search for and extract data from across oecds many databases. The consequences of an italian debt crisis would however be more dire its the third largest economy in.
A low debttogdp ratio indicates an economy that produces and sells goods and services sufficient to pay back debts without incurring further debt. Suppose that the measures taken by the italian government, and the decrease in output in 2020, imply a 20 percent increase in the debt ratio at this stage, a very likely overestimate of what is expected to happen. Debt to gdp ratio historical chart interactive chart of historical data comparing the level of gross domestic product gdp with federal debt. It makes a lot of sense for the american government to have a higher debt than a much smaller country, like germany. Belgium, singapore, barbados, japan, italy, and portugal, among others, all hold public debt to gdp at over 100 percent. Italy is breaking the eu rule that states countries with a debt to gdp ratio above 60% must reduce it by a 20 th every year for three years, and it risks being placed in excessive deficit. How the next euro crisis could unfold financial times. Net debt figure is the cumulative total of all government borrowings less repayments that are denominated in a countrys home currency. Graph and download economic data for household debt to gdp for italy hdtgpditq163n from q2 2005 to q2 2019 about italy, households, debt, and gdp. A debt to gdp ratio of 60% is quite often noted as a prudential limit for developed countries. In the longterm, the italy private debt to gdp is projected to trend around 165. Canadas government debt to gdp ratio data is updated yearly, available from mar 1962 to mar 2019. Almost the entire european union nations retain more debt to gdp.
In a ranking of debt to gdp per country, italy is currently ranked third. Central government debt, total % of gdp international monetary fund, government finance statistics yearbook and data files, and world bank and oecd gdp estimates. Italy is the eus second most debt ridden state with a ratio of 2% of gdp, followed by portugal and then cyprus. Politics has been central to the contrasting debt dynamics in the two countries. What voters need to know about deficits and the debt cbc. Government debt to gdp in italy is expected to be 2.