Japan is the country with the largest public debt in the world, accounting for 234 percent of the country’s GDP. This was stated by Daniil Nametkin, head of the Center for Investment Analysis and Macroeconomic Research of the Central Social Service.

Nametkin also named other leaders in this indicator: in the UK, debt is 144 percent of GDP, in the US – 160 percent, and in the eurozone – 120.4 percent. The expert noted that the total national debt of all countries of the world is 105 percent of their total GDP. But despite such high indicators of public debt in a number of large countries, they are unlikely to face problems with servicing it in the near future.

Meanwhile, Nametkin noted that measures to support the economy against the background of the pandemic led to an increase in inflation in a number of countries. Particularly, in the United States consumer prices rose by 5.4 percent – the highest value in 13 years. “In such conditions, there is a theoretical possibility of tightening the monetary policy of the US Federal Reserve, which can worsen the situation with debt servicing,” the expert explained.