Many people think that even one meal a day is enough without going into debt. But can we live without debt? If so, that’s definitely a question mark. It is no exaggeration to say that the world today is awash in debt. Ok, which is the most indebted country in the world? In this article, we are going to see how much debt there is in the GDP ratio.
Although a small country in terms of size, Japan is the top country in terms of debt value. The value of its debt is approximately 9,087 trillion dollars. Although it is the third richest country in Asia, it ranks among the top 10 indebted countries. Japan’s greatest hope is the tech sector.
Greece is the second most indebted country on the list. The value of its debt is $379 billion. Greece is one of the wealthiest countries, with a per capita income of over $30,000.
Portugal’s debt is around 264 billion dollars. portugal is one of the least productive countries. It invests very little in new technologies.
Italy’s debt is $2.48 trillion. italy is also one of the highest income countries. Individual income is approximately $24,742.01. It was also $34,081.09 in 2007.
Cyprus’ debt stands at approximately $21.64 billion. Cyprus personal loan value in 2020 was $26,623.80. It is a country ranked 16th among European countries.
Belgium’s debt is approximately $456.18 billion of its GDP. Belgium is also one of the highest paid countries. Its revenues come mainly from the service sector. The average salary here is around £37,923. In Europe, Belgium has the highest tax rate.
The United States, the world’s largest economy, has a debt value of $19.23 trillion. Its median per capita income in 2020 was $63,416. Although the income here is high, the cost is also high.
Spain’s debt is worth $1.24 trillion of its GDP. This is a GDP per capita rate of $30,116. The unemployment rate in Spain is 14.73%. It is one of the strongest countries compared to other countries.
Singapore’s debt is $254 billion. The GDP per capita ratio is $59,797.75. Per capita income in Singapore was around $86,480 in 2020. One of the highest income countries. It is also a great trading platform.