The global public debt rate is higher in developed countries than in developing economies. However, while the rate remained relatively stable in developed countries from 2010 to 2023, it increased steadily in developing countries since 2012. High debt levels and borrowing costs are a significant problem for countries already struggling with poor government finances. For instance, borrowing costs in Africa are almost four times higher than in the U.S.
Global public debt as a share of gross domestic product in developed and developing countries from 2010 to 2023
Public debt is general domestic and external government debt. General government includes both central, state, and local governments as well as social security funds.
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UNCTAD. (June 3, 2024). Global public debt as a share of gross domestic product in developed and developing countries from 2010 to 2023 [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1475600/global-public-debt-rate-development-region/
UNCTAD. "Global public debt as a share of gross domestic product in developed and developing countries from 2010 to 2023." Chart. June 3, 2024. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1475600/global-public-debt-rate-development-region/
UNCTAD. (2024). Global public debt as a share of gross domestic product in developed and developing countries from 2010 to 2023. Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1475600/global-public-debt-rate-development-region/
UNCTAD. "Global Public Debt as a Share of Gross Domestic Product in Developed and Developing Countries from 2010 to 2023." Statista, Statista Inc., 3 Jun 2024, https://www.statista.com/statistics/1475600/global-public-debt-rate-development-region/
UNCTAD, Global public debt as a share of gross domestic product in developed and developing countries from 2010 to 2023 Statista, https://www.statista.com/statistics/1475600/global-public-debt-rate-development-region/ (last visited December 30, 2024)
Global public debt as a share of gross domestic product in developed and developing countries from 2010 to 2023 [Graph], UNCTAD, June 3, 2024. [Online]. Available: https://www.statista.com/statistics/1475600/global-public-debt-rate-development-region/
