Global developed market debt to hit record $75.8 trillion by end of 2026: Fitch

Fitch projects developed market government debt to hit a record 75.8 trillion US dollars by end of 2026, rising to 104 percent of GDP, with the top 10 developed economies accounting for 69 trillion US dollars at 114.5 percent of GDP. The United States is forecast to post the widest budget deficit at 7.8 percent of GDP (about 2.5 trillion US dollars), while Japan is expected to retain the highest debt-to-GDP ratio at nearly 192 percent by 2030. Elevated bond yields, ageing demographics, higher defence spending and climate adaptation costs are flagged as sustained fiscal pressures, though AI-led productivity gains could offer some offset.