FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13, 2018.
REUTERS/Brendan McDermid/File PhotoLONDON (Reuters) - Global debt is set to reach $200 trillion, or 265% of the world’s annual economic output, by the end of the year, S&P Global has forecast - although it doesn’t expect a crisis any time soon.
“Global debt-to-GDP has been trending up for many years; the pandemic simply exacerbated the rise,” S&P’s report said.
As long as the world economy gets back on its feet after the pandemic, the global debt-to-GDP ratio should ease back to 256% by 2023, S&P said.
“We expect the debt growth of corporates, governments, and household to ease as they tend to after recessions,” it added.
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