Nearly $253 Trillion Amid Forecast of Further Rise – Report />

China’s economic slowdown between 2017 and 2018 reportedly added significantly to a sustained increase in global debt last year, a figure that will most likely grow in the months to come.

Global debt has set a new record of almost $253 trillion and is expected to increase even more before the end of this year, according to a new research report released the Institute of International Finance.

The report said that as compared to its total output, the world’s debt hit all-time high of more than 322 percent in the third quarter of 2019.

Total debt across the household, government, financial and non-financial corporate sectors reportedly increased by some $9 trillion within the period.

Non-financial sector debt totalled $74.4 billion (up 4.3%), while government debt amounted to $69.2 billion (up 6.1%).

At present, household debt in China stands at all-time high of 55 percent of the country’s Gross Domestic Product, with the country’s total debt approaching 310 percent of GDP, one of the highest rates among developing countries.


Global Debt Climbs to All-Time High of Nearly $253 Trillion Amid Forecast of Further Rise – Report

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