Standard & Poor's: Total debt of all countries to reach $44 trln

Baku. 28 February. REPORT.AZ/ Standard & Poor's international rating agency predicts the total debt of all countries to hit record $44 trillion in 2017.

Report informs referring to Turkish press, the agency’s report says.

According to report, the 130 countries it rates will borrow additional 6.8 trln USD in 2017, which features 315 billion USD or 4% increase in comparison with 2016.

Two countries, the US and Japan will share 60% of overall debts incurred in 2017 upon agency’s calculations. These countries are expected to borrow 2.2 trln and 1.8 trln USD correspondingly. China, Italy and France are expected to follow them upon amounts to be borrowed in 2017.

According to Standard & Poor's calculations, Global debts are estimated to make 9% of overall GDP.