2. Libya – Debt Deficit: 3.5% of GDP
Up next is a country that has been dominating worldwide news headlines over the last few years. Libya was one of the countries caught up in the Arab Spring.
It faced critical situation when destructive bloodshed civil war was spread in the whole country. And due to worldwide intervention, Muammar Gaddafi, the long ruling powerful was thrown from power.
The country has only 3.5% public debt of its $41,148 gross domestic product (GDP). Libya has been able to get by without dealing with debts due to its oil resources. The country has the world’s tenth biggest confirmed oil supplies.
As long as the oil prices remain high, the country should not have to borrow money from any other country and maintain its level of public debt.
