IMF: US national debt this year to exceed 123% of GDP

The US national debt in 2024 will exceed 123% of the country’s GDP and will continue to grow over the coming years, reaching a level of almost 134% in 2029, according to the updated forecast of the International Monetary Fund (IMF), Report informs.

The total US government debt will rise to 123.3% of GDP in 2024, up from 122.1% in 2023, according to a document released on April 17.

In 2025, the figure will increase even more and amount to 126.6%, after which it will continue to grow and reach 133.9% of GDP in 2029.