US Public Debt to Increase Very Rapidly: IMF Says
TEHRAN (Tasnim) – The International Monetary Fund (IMF) in its latest report said an increased interest rate and the US government’s move towards clean energies will increase the spending of the Federal Reserve extremely and consequently, which will increase the public debt.
The US public debt will continue to rise in the coming years amid increased government borrowing, the IMF said in its Fiscal Monitor report.
IMF economists are of the opinion that the debt increase will relate to the increase of costs at the White House in the field of meeting the demands on healthcare and medical services, social security, as well as clean energy projects as well as other domestic economic policies.
The US public debt-to-gross domestic product (GDP) ratio is predicted to be 121.7% in 2022. according to the IMF.
IFM also stated that the two countries of US and China have the maximum debt rate in the worldwide.
Currently, the US public debt has surpassed $31.6 trillion, the rate of which will top $32 trillion.