1. Japan – Debt Deficit: 229.20% of GDP
Who would have thought the great Japan will be on top of our list? That is the fact. Japan has the biggest debt deficit among other countries in the entire world.
In the last two decades, Japan tried to use fiscal stimulus to boost its economy. It received a huge amount of public debt. This was a good plan, until its demographic situation stabbed the country in the back. Since 2010, Japanese population has been decreasing. This means the country is now populated with higher number of elders and less number of productive generations.
Unlike Greece, despite having the biggest debt deficit of 229.20%, people don’t think Japan will be flushed down the toilet. Japan has Yen, which is one of the world’s currencies. Plus, Japan is producing a lot more Gross Domestic Product (GDP) among most debt-deficit countries with $4,602,367.
As you can see on the other article, a rich country may not be the one with the least debt deficit. And on this article, you can also understand that a poor country may not be the one with the biggest debt deficit. Any thoughts?
