US state debt may exceed 120% of GDP next year — Fitch

International ratings agency Fitch Ratings projects the US state debt to top 120% of the country's GDP by 2027, Report informs via TASS.

"We expect a general government (GG) deficit of 7.9% of GDP this year and next, pushing already high GG debt above 120% by next year in our baseline," the report says.

At this point, the US state debt burden exceeds $39.1 trillion, which is over $114,000 per each citizen of the country.