US debt load ballooning, set to outpace some African countries in 5yrs – IMF

ArticleDebt crisis April 19, 2018 - 6:59:53 AM

The US debt-to-GDP ratio is projected to jump to 116.9 percent by 2023, leaving behind Italy, according to the International Monetary Fund (IMF).

In five years, the American debt burden will also be worse than some countries in Sub-Saharan Africa, such as Mozambique or Burundi.

“In the United States, the revised tax code and the two-year budget agreement lead to an expansion in the level of economic activity until 2020. These measures will give rise to overall deficits above $1 trillion over the next three years, which is more than 5 percent of GDP. This adds to the rising trend in government debt, bringing it to 117 percent of GDP in 2023,” the IMF said in its report...

Source:RT.com

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