The global public debt is $71.6 trillion

The size of the public debt of all countries of the world will increase in 2022 by 9.5% and will reach a record level of $ 71.6 trillion, according to the study of the Sovereign Debt Index conducted by the British management company Janus Henderson.

In 2021, global public debt increased by 7.8% to $65.4 trillion, with an increase in borrowing observed in all countries surveyed.

Meanwhile, the total cost of debt servicing has fallen to $1.01 trillion, meaning the actual rate was just 1.6%, according to CNBC research.

In 2022, spending on servicing global public debt is expected to jump 14.5% to $1.16 trillion.

Analysts from Janus Henderson believe that the UK will face higher borrowing costs than other countries due to higher interest rates at the Bank of England and a large amount of government debt with floating rates linked to inflation.

Domestic consumer prices jumped 6.2% year-on-year in February, the fastest pace since March 1992.

Bethany Payne, portfolio manager at the company, said European countries will also actively launch government bonds due to the need to sharply increase government spending on defense in light of events in Ukraine.

 

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