After subprime mortgage crisis in America, we are now facing problem of high government debt risk in some G-20 member plus Euro countries.
Some analist say that the main cause is the politicians give generous subsidies to gain support from the community, and has been going on for many years.
Below is the list of G-20 members with estimated future gross government debt based on data released in September 2011 by the International Monetary Fund.
Greece has 166% ratio, and not included in G-20, but Greece is European Union member.
Is it the main cause of today global economic crisis? Actually there are many factors to determine whether debt of certain country is safe or not. I let you to analyze it by yourself.
Gross government debt in percent of GDP | ||||
NO | G-20 MEMBER | Year 2011 % | ||
1 | European Union | n/a | ||
2 | Japan | 233 | ||
3 | Italy | 121 | ||
4 | United States | 100 | ||
5 | France | 87 | ||
6 | Canada | 84 | ||
7 | Germany | 83 | ||
8 | United Kingdom | 81 | ||
9 | Brazil | 65 | ||
10 | India | 62 | ||
11 | Argentina | 43 | ||
12 | Mexico | 43 | ||
13 | Turkey | 40 | ||
14 | South Africa | 36 | ||
15 | South Korea | 32 | ||
16 | China | 27 | ||
17 | Indonesia | 25 | ||
18 | Australia | 23 | ||
19 | Russia | 12 | ||
20 | Saudi Arabia | 7 | ||
Sorted by biggest percentage of Debt to GDP ratio |
Source Wikipedia
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