global public debt

IMF's optimistic outlook of global economy

Global Public Debt Will Reach 100% Of GDP For The First Time

The world public deficit in 2020 stands at 12.7% of GDP, compared to its forecast of 3.9% in April, and gross public debt could increase  to 100% of global GDP, says the IMF. Thus, it supports more spending and outlines scenarios in which some countries will be able to stabilize their debt, by the middle of this decade, without tax increases or budget cuts. Specifically, its estimates suggest that a public infrastructure investment of 1% of GDP could boost production by 2.7%, creating between 20 and 33 M jobs.