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TOP 20 Government Debt to GDP Ranking; which country have largest government debt in the world? Here we compare the government debt to GDP from 1988 to 2024 using IMF statistics. Also we provide debt increment rate and GDP growth rate for each country. Government debt is the total of all borrowing of a government, minus repayments denominated in a country's home currency. The debt-to-GDP ratio is a commonly accept method for assessing the significance of a nation's debt. For example, one of the criteria of admission to the European Union's euro currency is that an applicant country's debt should not exceed 60% of that country's GDP. The GDP calculation of many leading industrial countries include taxes such as the value-added tax, which increase the total amount of the gross domestic product and thus reducing the percentage amount of the debt-to-GDP ratio. Japan's Government debt accounted for 200.5 % of the country's Nominal GDP in Dec 2018, compared with the ratio of 199.2 % in the previous year.
