Global debt has surged to a record high of $318 trillion.

The global debt, encompassing government, corporate, and private obligations, increased by $7 trillion in 2024, reaching a record high of $318 trillion. This information was reported by Reuters, citing data from the Institute of International Finance (IIF).

For the first time since 2020, the ratio of global debt to global GDP rose by 1.5 percentage points, reaching 328%. This increase was primarily driven by the growth of government debt, which exceeded $95 trillion.

This metric plays a crucial role in assessing the global economy's ability to manage debt obligations. The higher the debt-to-GDP ratio, the greater the risk of a debt crisis, especially if debt grows faster than the economy.

Emerging markets, including China, India, Saudi Arabia, and Turkey, accounted for approximately 65% of the increase in global debt in 2024. In 2025, these countries will need to repay or refinance $8.2 trillion, which could complicate their ability to address economic and political challenges.

According to IIF forecasts, global debt is expected to increase by another $5 trillion in 2025. The main drivers will be increased government spending to support businesses, infrastructure development, and defense, particularly in Europe.

As a reminder, the NBU has updated the list of the most important payment systems.