According to the most recent Fiscal Monitor report from the IMF, the worldwide public debt is expected to increase to 93% of GDP by the end of 2024 and almost 100% by 2030. That would be more than its COVID-19 peak of 99 percent. Additionally, compared to 2019, before the epidemic blew up government spending, it would be up 10 percentage points.
The Fiscal Monitor, which was released one week before the IMF and World Bank hold their annual meetings in Washington, stated that there are several reasons to think that future debt levels could be far higher than those that are now anticipated, including a desire to increase spending in the US, the largest economy in the world.
