Global Public Debt Rose to 93.9% of GDP in 2025, Reaching 100% by 2029

Global public debt reached 93.9% of global GDP in 2025 and is projected to reach 100% by 2029, increasing pressure on major economies and keeping fiscal sustainability in focus for U.S. markets.

IMF Managing Director Kristalina Georgieva said global public debt is nearing 100% of GDP and that advanced economies have the highest debt burdens. Major economies accounted for much of the increase in the global ratio.

The projected rise follows earlier coverage of the global debt outlook, which put the ratio at 100% of GDP by 2029 using information available through April 1, 2026.

U.S. publicly held federal debt stood at 99% of GDP at the close of fiscal 2025. Over a 75-year horizon, projected spending on Social Security, Medicare and other social insurance exceeds dedicated revenues by an estimated $88.4 trillion in present-value terms. The figure is not an amount due today and depends on economic and demographic assumptions.

A separate 75-year fiscal estimate found that stabilizing the U.S. debt-to-GDP ratio would require an average primary-surplus increase equal to 4.7% of GDP if adjustments began in 2026. If the adjustment began in 2036, the estimated increase would rise to 5.6% of GDP.