Brazil External Debt as a % of GDP Highlights in 2020
Brazil’s external debt as a % of GDP hit 43.6% in 2020, an increase of 20.2% over the previous year. Between 2010 to 2020, Brazil’s external debt as a % of GDP increased by 140.5%.
According to the IMF, the country’s general government gross debt skyrocketed to 98.9% of GDP in 2020. IMF forecasts that debt will reach 101.4% of GDP by 2025. Brazil has relatively little external debt. Total external debt stood at $681.3 billion in 2019, up from $660.7 billion in 2018, according to the CIA factbook. The general government debt has also risen in Brazil on the back of rising borrowing. In 2020, the general government gross debt stood at 98.9% of GDP as compared to 87.7% of GDP in 2019. According to IMF forecasts, the debt is expected to reach 101.4% of GDP by 2025.
Outlook on Global Economy
Real GDP is measured using inflation-adjusted base year prices. Real GDP changes are a measure of economic growth and show whether there has been an increase or decrease in the volume of economic activity.
According to real GDP, the world's top five economies are the United States, China, Japan, Germany, and India. After the US, China had the largest real GDP in 2021 with a value of $12.7 trillion in 2021. With a $6 trillion real GDP during the same period, Japan came in third place globally. Germany and India are the other two largest leading economies, with real GDPs of $3.8 trillion and $2.9 trillion, respectively.
Factors Affecting the Global Economy
A rise in COVID-19 cases:
As a result of Omicron, a new variant of COVID-19, more cases have been reported worldwide, resulting in the disruption of supply chain management. However, the global vaccination drive has reduced the fatality rate from the coronavirus.
Rising Inflation and Interest Rates:
As a result of rising inflation rates in both developing and advanced economies, central banks have been forced to tighten monetary policy and raise interest rates to keep prices from rising. However, a steady increase in interest rates could cause financial distress in some economies.
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