European Nations Top Countries With Highest Debt-to-GDP Ratio

Recent data compiled by Buy Shares has shown that European nations account for six out of the top 10 countries with the highest national debt-to-GDP ratio.

The report showed Japan has the highest debt-to-GDP ratio at 268.21 percent.

This was followed by Greece with a debt-to-GDP ratio of 214.29 percent while Italy came third at 156.92 percent. The United States and the United Kingdom came fifth and tenth at 136.69 percent and 100.87 percent, respectively.

The report also highlighted nations with the highest GDP and national debt.

It noted that as of September 3rd, the United States has the highest GDP at $19.54 trillion followed by China at $14.57 trillion.

Japan remained the world’s third-largest economy at $4.53 trillion, almost five times less than the USA.

In terms of national debt, the United States tops the chart with $26.71 trillion. The total debt of the world’s largest economy more than doubled Japan that came second with $12.15 trillion.

China has the third highest national debt globally at $7.32 trillion.

According to the report “The United States has seen it’s national debt spike into crisis levels even surpassing the GDP. The massive spending in stimulus packages to mitigate the coronavirus pandemic is projected to push the national debt beyond the size of the economy. Interestingly, despite the US debt hitting historical highs, the stock market in August saw the S&P 500 and the Dow Jones Industrial Average recover from March losses.”

The U.S. has continued to pump money into the economy to mitigate the negative impacts of COVID-19 on its people and productivity.