Debt Projections for G7 Countries (2024-2029)

What We’re Showing

The projected gross debt for each G7 country as a percentage of their GDP in 2024 and 2029. Fatter lines indicate higher debt-to-GDP, and longer lines indicate a larger change over that time period.

Figures are based on data from the International Monetary Fund’s April 2024 edition of the World Economic Outlook.

Defining Debt

Gross debt is the total value of all of a country’s liabilities at a given point in time. Net debt is gross debt less a country’s financial assets, including cash reserves or investments. The debt figures in this infographic are of government debt, and don’t include public sector debt from provincial or state-level debt.

Key Takeaways

• The U.S. is predicted to see the greatest accumulation in gross debt in the next five years, with the IMF projecting a 8.6% increase from 2024 to 2029.
• Japan is shaping up to be the G7 country with both the greatest gross and net debt burden, with a projected net debt-to-GDP ratio of 152.9% in 2029.
• Only Japan, Canada, and Germany are predicted to see gross debt levels fall in the next five years.