Countries' debts may reach record levels due to the pandemic

2020/11/56406-1605862638.jpg
Read: 1085     14:00     20 Ноябрь 2020    

The global debt currently stands at more than $ 272 trillion, and experts estimate that it will become even larger by the end of the year. Due to the coronavirus, global debt will increase to a record $ 277 trillion by the end of the year, the Institute of international Finance (IIF) reported. "Global debt has grown by more than $ 15 trillion since 2019, reaching a new record in the third quarter of 2020 – over $ 272 trillion. As the budget response to the pandemic continues, we expect global debt to reach $ 277 trillion (365% of GDP) by the end of 2020, " the Institute said in a report. The international monetary Fund (IMF) also believes that a General economic downturn is expected due to the pandemic. The organization forecasts a decrease in global GDP by 4.4% this year and a subsequent growth of 5.2% in 2021.

National Debt of Georgia

The decline in economic activity in the country caused by restrictions due to the risk of the spread of coronavirus, as well as large-scale state assistance to affected segments of the population, led to an increase in the budget deficit to almost 8%.

One of the main sources of covering the resulting deficit was assistance from international financial institutions, which, on the other hand, led to an increase in the country's external debt. Already in the second quarter, Georgia's public debt increased by almost 8% and reached $ 6,142. 5 million as of June 30.

According to the state budget for 2020, adopted in June this year, the maximum amount of the country's public debt will increase by 4.5 billion to 27.3 billion lari.

 

Sputnik-georgia.ru





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Countries' debts may reach record levels due to the pandemic

2020/11/56406-1605862638.jpg
Read: 1086     14:00     20 Ноябрь 2020    

The global debt currently stands at more than $ 272 trillion, and experts estimate that it will become even larger by the end of the year. Due to the coronavirus, global debt will increase to a record $ 277 trillion by the end of the year, the Institute of international Finance (IIF) reported. "Global debt has grown by more than $ 15 trillion since 2019, reaching a new record in the third quarter of 2020 – over $ 272 trillion. As the budget response to the pandemic continues, we expect global debt to reach $ 277 trillion (365% of GDP) by the end of 2020, " the Institute said in a report. The international monetary Fund (IMF) also believes that a General economic downturn is expected due to the pandemic. The organization forecasts a decrease in global GDP by 4.4% this year and a subsequent growth of 5.2% in 2021.

National Debt of Georgia

The decline in economic activity in the country caused by restrictions due to the risk of the spread of coronavirus, as well as large-scale state assistance to affected segments of the population, led to an increase in the budget deficit to almost 8%.

One of the main sources of covering the resulting deficit was assistance from international financial institutions, which, on the other hand, led to an increase in the country's external debt. Already in the second quarter, Georgia's public debt increased by almost 8% and reached $ 6,142. 5 million as of June 30.

According to the state budget for 2020, adopted in June this year, the maximum amount of the country's public debt will increase by 4.5 billion to 27.3 billion lari.

 

Sputnik-georgia.ru





Tags: