Global public debt is anticipated to top $100 trillion by the end of 2024, equating to approximately 93% of global economic output.
The increase is largely fueled by expanding fiscal deficits in the U.S. and China, as both countries face significant spending demands and slower economic growth.
According to the IMF, global debt could rise to 100% of GDP by 2030 if trends persist, creating risks for both advanced and emerging economies. Efforts to reverse the trend are hindered by political reluctance on tax reforms and the need for essential spending.
