A new record has been set in the global economy. This was reported by Zamin.uz.
According to data from international financial institutions, by the end of the second quarter of 2024, the world's debt reached 337.7 trillion US dollars for the first time. This was announced by the Reuters agency.
Analysts believe that the soft conditions in global financial markets, the depreciation of the US dollar, and the accommodative policies of leading central banks have caused a sharp increase in the amount of debt. Since the beginning of the year, global debt has increased by more than 21 trillion dollars, setting a new record.
According to the International Financial Institute's report, the largest growth in debt was observed in China, France, the US, Germany, the United Kingdom, and Japan. This process is linked to the weakening of the dollar.
Since the beginning of this year, the dollar has depreciated by approximately 10 percent against the currencies of its main trading partners. The report emphasizes that as a result of economic measures taken by countries during the pandemic, debt increased to an unprecedented level, and current growth rates are approaching those levels.
Interesting changes were also observed in the ratio of debt to gross domestic product. This index sharply increased in Canada, China, Saudi Arabia, and Poland, while a decrease was recorded in Ireland, Japan, and Norway.
Developing countries have not been spared from the debt burden either; in the second quarter, they took on an additional 3.4 trillion dollars in debt, bringing the total debt amount to over 109 trillion dollars. According to IIF data, the main reason for the debt increase is a sharp rise in government debt.
This situation is especially noticeable in G7 countries and China. It is worth recalling that in 2023, the world's total debt amounted to 251 trillion US dollars.
This significant increase within one year is causing widespread discussion and debate among economists. Experts emphasize that such rapid growth of global debt may increase financial risks.
As a result, countries around the world will be forced to take stricter and more effective measures to ensure economic stability. This process is considered to be of great importance for future financial stability.
