Does India have more debt than Pakistan?

Which country is in more debt India or Pakistan?

Country comparison Pakistan vs India

India Pakistan
2015 69.05% 63.32%
2016 68.94% 67.65%
2017 69.68% 67.06%
2018 70.44% 72.08%

How much is Pakistan in debt?

Pakistan’s debt mounts over $15 billion, breaking previous year’s record. Shattering the previous record of 10.45 billion US dollars, Pakistan took out 15.32 billion US dollars in new foreign loans in the fiscal year 2020-21, according to a new government report.

Which country has highest debt?

List

Rank Country/Region External debt US dollars
1 United States 3×1013
2 United Kingdom 9.019×1012
3 France 7.3239×1012
4 Germany 5.7358032×1012

How much debt does India have?

India’s external debt was US$ 570 billion at the end of March 2021. It recorded an increase of US$ 11.6 billion over its level at end of March 2020. The external debt to GDP ratio increased to 21.1% at end of March 2021 from 20.6% an year ago.

What is India’s GDP in 2021?

The nominal GDP or GDP at current prices in the year 2021-22 is estimated at ₹ 232.15 lakh crore, as against the provisional estimate of GDP for the year 2020-21 of ₹ 197.46 lakh crore. The growth in nominal GDP during 2021-22 is estimated at 17.6 per cent.

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Which country is debt free?

1. Hong Kong —0.1%. Hong Kong’s market-driven economy is characterised by a lucrative financial banking sector, well-regulated financial controls, large foreign exchange reserves, and virtually no public debt.

Why is Pakistan in so much debt?

How much does each Pakistani citizen owe? A couple of days back, Pakistan Prime Minister Imran Khan said the “biggest problem” is that the government doesn’t have enough money to run the country. He added that the rising foreign debts and low tax revenue had become an issue of “national security”.

Why is Pakistan in debt?

Pakistan’s total debts and liabilities have crossed PKR 50.5 trillion, marking an increase of some PKR 20 trillion under the current Imran Khan government. … The State Bank blames the strain on fiscal resources to high debt servicing, as well as imports of food including wheat, sugar and vegetables.

Is Pakistan a poor country?

Pakistan is among the poorest nations in the world.

Which state has more debt in India?

According to the latest Reserve Bank of India report on state finances, Punjab topped the states with the highest debt-to-GSDP at 49.1% in FY21, 6.6 percentage points more than a year ago.

What is India’s current external debt?

In the long-term, the India Total External Debt is projected to trend around 585000.00 USD Million in 2022 and 617000.00 USD Million in 2023, according to our econometric models.

Why is Japan debt so high?

The public debt of Japan has continued to rise in response to a number of challenges, including but not limited to the Global Financial Crisis in 2007-08, the Tōhoku Earthquake in 2011, and the COVID-19 pandemic beginning in late 2019 which also held ramifications for Tokyo’s hosting of the 2020 Summer Olympics.

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How much is China’s debt?

At the end of 2020, China’s foreign debt, including U.S. dollar debt, stood at roughly $2.4 trillion. Corporate debt is $27 trillion, while the country’s total public debt exceeds 300 percent of GDP.

What is Pakistan debt to GDP ratio?

In 2020, the national debt of Pakistan amounted to approximately 87.56 percent of the GDP.

Pakistan: National debt from 2016 to 2026* in relation to gross domestic product (GDP)

Characteristic National debt in relation to GDP
2023* 75.81%
2022* 80.94%
2021* 83.42%
2020 87.56%

Which country owes the most money to China?

In 2018, the Center for Global Development found that Djibouti, Kyrgyzstan, Laos, the Maldives, Mongolia, Montenegro, Pakistan and Tajikistan – countries among the poorest in their respective regions — will owe more than half all their foreign debt to China.