Global debt to reach psychological threshold by 2030

According to the IMF's Fiscal Monitor report, global government debt will reach 95.1% of GDP this year and 99.6% by 2030. This ratio was 98.9% in 2020, at the peak of the coronavirus pandemic.

Major tariff announcements by the United States, countermeasures by other countries, and exceptionally high levels of policy uncertainty, are contributing to worsening prospects and heightened risks,

the IMF said in the report.

The IMF report indicates that the global annual fiscal deficit increased to 5.1% of GDP this year, up from 5.0% last year. These forecasts are based on the baseline scenario of 2.8% global GDP growth this year.

According to the IMF forecast, the United States' fiscal deficit-to-GDP ratio will be 6.5% this year, decreasing to 5.5% next year due to economic growth and new budget revenues from import tariffs.