In 2024, global debt rose to $315 trillion, marking the largest and fastest increase since World War II, NBC News reports. Debt growth has continued for the second consecutive quarter, primarily driven by emerging markets. Debt in these markets reached over $105 trillion, which is $55 trillion more than a decade ago.
Approximately two-thirds of the global debt is held by mature economies, with Japan and the United States forming the largest shares. Despite the increase in debt, the debt-to-gross domestic product (GDP) ratio is declining in developed countries, indicating their ability to service their debts.
In less mature economies, the debt-to-GDP ratio is less favourable, posing challenges in managing debt obligations.
Earlier, Daryo reported that Uzbekistan's public debt rose to $34.9 bn at the beginning of 2024, an increase of $5.7 bn from the previous year, exceeding expectations by $2.8 bn. This debt constitutes approximately 38.4% of Uzbekistan's GDP. External debt amounts to $29.6 bn, or 29.6% of GDP, while domestic debt stands at $5.3 bn, accounting for 5.3% of GDP.
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