The economy of Greece is the 52nd largest in the world, with a nominal gross domestic product (GDP) of $252.732 billion per annum. In terms of purchasing power parity, Greece is the world's 54th largest economy, at $436.757 billion per annum. As of 2023, Greece is the sixteenth largest economy in the European Union and eleventh largest in the eurozone. According to the International Monetary Fund's figures for 2024, Greece's GDP per capita is $24,342 at nominal value and $42,066 at purchasing power parity. Among OECD nations, Greece has a highly efficient and strong social security system; social expenditure stood at roughly 24.1% of GDP.
The economy of Lebanon has been experiencing a large-scale multi-dimensional crisis since 2019, including a banking collapse, the Lebanese liquidity crisis and a sovereign default. It is classified as a developing, lower-middle-income economy. The nominal GDP was estimated at $19 billion in 2020, with a per capita GDP amounting to $2,500. In 2018 government spending amounted to $15.9 billion, or 83% of GDP.
The economy of Tanzania is a lower-middle income economy that is centered around Manufacturing, Tourism, Agriculture, and financial services. Tanzania's economy has been transitioning from a planned economy to a market economy since 1985. Although total GDP has increased since these reforms began, GDP per capita dropped sharply at first, and only exceeded the pre-transition figure in around 2007.
The economy of Zimbabwe is a gold standard based economy. Zimbabwe has a $44 billion dollar informal economy in PPP terms which translates to 64.1% of the total economy. Agriculture and mining largely contribute to exports. The economy is estimated to be at $73 billion at the end of 2023.
The economy of Tunisia is in the process of being liberalized after decades of heavy state direction and participation in the country's economy. Prudent economic and fiscal planning has resulted in moderate but sustained growth for over a decade. Tunisia's economic growth historically has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism. In the World Economic Forum Global Competitiveness Report for 2015–2016, Tunisia ranks in 92nd place.
The national debt of the United States is the total national debt owed by the federal government of the United States to Treasury security holders. The national debt at any point in time is the face value of the then-outstanding Treasury securities that have been issued by the Treasury and other federal agencies. The terms "national deficit" and "national surplus" usually refer to the federal government budget balance from year to year, not the cumulative amount of debt. In a deficit year the national debt increases as the government needs to borrow funds to finance the deficit, while in a surplus year the debt decreases as more money is received than spent, enabling the government to reduce the debt by buying back some Treasury securities. In general, government debt increases as a result of government spending and decreases from tax or other receipts, both of which fluctuate during the course of a fiscal year. There are two components of gross national debt:
The debt of developing countries usually refers to the external debt incurred by governments of developing countries.
A country's gross government debt is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt.
The history of the United States public debt began with federal government debt incurred during the American Revolutionary War by the first U.S treasurer, Michael Hillegas, after the country's formation in 1776. The United States has continuously experienced fluctuating public debt, except for about a year during 1835–1836. To facilitate comparisons over time, public debt is often expressed as a ratio to gross domestic product (GDP). Historically, the United States public debt as a share of GDP has increased during wars and recessions, and subsequently declined.
Eurobonds or stability bonds were proposed government bonds to be issued in euros jointly by the European Union's 19 eurozone states. The idea was first raised by the Barroso European Commission in 2011 during the 2009–2012 European sovereign debt crisis. Eurobonds would be debt investments whereby an investor loans a certain amount of money, for a certain amount of time, with a certain interest rate, to the eurozone bloc altogether, which then forwards the money to individual governments. The proposal was floated again in 2020 as a potential response to the impacts of the COVID-19 pandemic in Europe, leading such debt issue to be dubbed "corona bonds".
The financial position of the United States includes assets of at least $269 trillion and debts of $145.8 trillion to produce a net worth of at least $123.8 trillion. GDP in 2014 Q1 decline was due to foreclosures and increased rates of household saving. There were significant declines in debt to GDP in each sector except the government, which ran large deficits to offset deleveraging or debt reduction in other sectors.
Canadian public debt, or general government debt, is the liabilities of the government sector. Government gross debt consists of liabilities that are a financial claim that requires payment of interest and/or principal in future. They consist mainly of Treasury bonds, but also include public service employee pension liabilities. Changes in debt arise primarily from new borrowing, due to government expenditures exceeding revenues.
Greece faced a sovereign debt crisis in the aftermath of the 2007–2008 financial crisis. Widely known in the country as The Crisis, it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a humanitarian crisis. In all, the Greek economy suffered the longest recession of any advanced mixed economy to date and became the first developed country whose stock market was downgraded to that of an emerging market in 2013. As a result, the Greek political system was upended, social exclusion increased, and hundreds of thousands of well-educated Greeks left the country.
The Australian government debt is the amount owed by the Australian federal government. The Australian Office of Financial Management, which is part of the Treasury Portfolio, is the agency which manages the government debt and does all the borrowing on behalf of the Australian government. Australian government borrowings are subject to limits and regulation by the Loan Council, unless the borrowing is for defence purposes or is a 'temporary' borrowing. Government debt and borrowings have national macroeconomic implications, and are also used as one of the tools available to the national government in the macroeconomic management of the national economy, enabling the government to create or dampen liquidity in financial markets, with flow on effects on the wider economy.
The United Kingdom national debt is the total quantity of money borrowed by the Government of the United Kingdom at any time through the issue of securities by the British Treasury and other government agencies.
As of March 2023, the Japanese government debt is estimated to be approximately 9.2 trillion US dollars, or 263% of GDP, and is one of the highest among developed nations. 43.3% of this debt is held by the Bank of Japan.
Germany's balanced budget amendment, also referred to as the debt brake, is a fiscal rule enacted in 2009 by the First Merkel cabinet. The law, which is in Article 109, paragraph 3 and Article 115 of the Basic Law, Germany's constitution, is designed to restrict structural budget deficits at the federal level and limit the issuance of government debt. The rule restricts annual structural deficits to 0.35% of GDP.
The national debt of Pakistan, or simply Pakistani debt, is the total public debt, or unpaid borrowed funds carried by the Government of Pakistan, which includes measurement as the face value of the currently outstanding treasury bills (T-bills) that have been issued by the federal government.
Next Generation EU (NGEU) is a European Commission economic recovery package to support the EU member states to recover from the COVID-19 pandemic, in particular those that have been particularly hard hit. It is sometimes styled NextGenerationEU and Next Gen EU, and also called the European Union Recovery Instrument. Agreed in principle by the European Council on 21 July 2020 and adopted on 14 December 2020, the instrument is worth €750 billion. NGEU will operate from 2021 to 2026, and will be tied to the regular 2021–2027 budget of the EU's Multiannual Financial Framework (MFF). The comprehensive NGEU and MFF packages are projected to reach €1824.3 billion.
The Nigeria national debt or simply national debt of Nigeria is the total amount of money that the Federal Government of Nigeria owes to its creditors, both domestic and external. The national debt is composed of two main components: debt held by the public and debt held by government accounts. Debt held by the public includes Treasury securities held by investors outside the federal government, such as individuals, corporations, the Central Bank of Nigeria, and foreign, state and local governments. Debt held by government accounts includes non-marketable Treasury securities held in accounts of programs administered by the federal government, such as the Nigeria Social Insurance Trust Fund. The national debt is measured as the face value of the outstanding Treasury securities at a given point in time.
