A report by the Institute of International Finance showed that global debt increased by more than $ 15 trillion in 2023, reaching a new record high of $ 313 trillion. About 55 percent of this rise originated from mature markets, driven mainly by the United States, France, and Germany. In emerging markets, debt accumulation is mostly concentrated in China, India, and Brazil.
Public governments saw the largest increases in the value of outstanding debt in US dollars, followed by non-financial companies. Debt outside the financial sector stood at $244 trillion, which is now more than $45 trillion above pre-pandemic levels.
Source (Al Khaleej Emirati Newspaper, Edited)
