Named the countries with lowest national debt

Baku. 11 December. REPORT.AZ/ While many countries around the world are struggling with increase of debts and budget deficits, other countries try to decrease the debt level by fulfilling their debt liabilities.

Report informs referring to Global Competitiveness Survey Report (2017-2018) prepared by the World Economic Forum, Hong Kong has the lowest national debt in relation to Gross Domestic Product. In this country the debt/GDP amounts 0.1%. It happened due to factors of low taxes and governmental non-interference with business.

Brunei ranks the second in the list with 3.1%. Brunei is the fourth largest liquid gas producer in the world. Estonia come the third with 9.5% which has lowest level of the corruption in the world.

Public debt of Saudi Arabia equals to 12,4% of GDP, Botswana 13.9%, Russia 17%, Kuwait 18.6%, Nigeria 18.6%, UAE 19.3%, Algeria 20.4% and Kazakhstan- 21.1%.

According to Global Competitiveness Survey for 2016-2017, the public debt of Azerbaijan accrued a public debt equal to 36.1% of GDP.