The ratio of global government debt to gross domestic product rose during the first quarter of the year after three consecutive quarters of decline last year, with falling inflation exposing high public spending across major economies.
The Institute of International Finance this week reported that global debt increased by $1.3tn in the first quarter of 2024, hitting a record high of over $315tn. This is equivalent to 333 per cent of global GDP, up from 330 per cent in December.
