IMF: General Government Net Debt Projects in Leading Countries
G7 Fiscal Resilience and Net Debt Trajectories The global fiscal outlook is navigating a "high-pressure" era. Persistent geopolitical instability, particularly the conflict in the Middle East, has strained government finances through increased defense outlays and tighter financial conditions. For the G7, the distinction between gross and net debt remains a vital indicator of fiscal health, as several of these nations hold substantial financial assets that offset their total liabilities. G7 General Government Net Debt (2026 Projections) The following data reflects the net debt-to-GDP ratios as projected in the latest fiscal assessments. Country Net Debt (% of GDP) Fiscal Outlook Summary Japan 156.4% Despite massive assets, Japan’s aging demographic continues to drive high net debt levels. Italy 128.9% Structural growth challenges and rising interest costs keep Italy as the Eurozone's highest net debtor. United States 102.1% A persistent primary deficit is steadily narro...