The Corona pandemic has compounded the global debt crisis as a result of the suspension of many activities during the past year, which called on countries to resort to debt to confront that crisis.
According to the monitoring unit of the reports in the newspaper “Al-Iqtisadiah”, which was based on data from the International Monetary Fund and statistical bodies for countries, the debt-to-GDP ratio at current prices exceeded 150 percent in eight countries around the world at the end of last year 2020, including three countries whose debts exceed 250 percent. to its domestic product.
Venezuela tops the eight countries with a debt-to-output ratio of 350 percent, Japan 266 percent, Sudan 259 percent, Greece 206 percent, Lebanon 172 percent, Cape Verde and Italy 156 percent each, and Libya 155 percent.
The data indicate that the list of the highest country in terms of the ratio of public debt to GDP includes three Arab countries: Sudan (before it was exempted from some of its debts), Lebanon and Libya.
On the other hand, two Arab countries ranked among the ten lowest countries in the world in the ratio of debt to GDP, namely Kuwait, 11.5 percent, and Palestine, 16.4 percent of GDP.
Saudi Arabia was among the lowest 30 countries around the world in the debt-to-GDP ratio of 32.5 percent, after reaching 853.5 billion riyals at the end of 2020, while the gross domestic product at current prices in the same year was about 2.63 trillion riyals.
In the Gulf, Kuwait came with the lowest debt as a percentage of GDP with 11.5 percent, followed by Saudi Arabia 32.5 percent, the UAE 36.9 percent, Oman 55.9 percent, Qatar 71.8 percent, and Bahrain 128 percent.
The ranking of the Arab countries in terms of the least is as follows: Kuwait 11.5 percent, Palestine 16.4 percent, Comoros 26.8 percent, Saudi Arabia 32.5 percent, and the UAE 36.9 percent.
Behind it is Djibouti 42.2 percent, Mauritania 53.1%, Oman 55.9%, Algeria 57.2 percent, Iraq 68.3 percent, Qatar 71.8 percent, Morocco 77.4 percent, and Yemen 81.7 percent.
While Egypt is 88 percent, Jordan is 92.4 percent, Bahrain is 128 percent, Libya is 155 percent, Lebanon is 172 percent, and Sudan is 259 percent.
Economic Reporting Unit