$1.28Thousand Debt Accounts for Each Belarusian

27.06.2011 16:54

Belarus ranks 76th out of 97 world countries in terms of debt burden on the population. According to statistics, each Belarusian accounts for more than $1.2 thousand of public debt. The ratio of debt to GDP in Belarus is 22.5%. At the same time, the national debt of Belarus grew by 32.8% in 2010 against 2009.

According to the Ministry of Finance of Belarus, the foreign debt of Belarus amounted to $9.6 billion on January 1, 2011. Most of the debt (more than $9.4 billion) is loans borrowed by the government. About $201 million makes up debts on loans borrowed by residents on the government security.

According to the research of the Center for Economic Analysis «RIA-Analytics» RIA «Novosti,» conducted by the International Monetary Fund, the average is about $11 thousand of sovereign debt per capita.

Data analysis shows that better developed countries have higher debt load. The highest level of debt is in Japan. Here the debt to GDP ratio reached 220.3%. More than $100 thousand debt accounts for each Japanese citizen.
At the same time Singapore, ranking 2nd in this indicator, indicates only $47 thousand per capita.
Meanwhile, Greece occupied the second place in the ranking of government debt to GDP ratio, indicating 142%. Greece has an average of $38 thousand debt per capita.
Besides Japan and Greece, the national debt also exceeds GDP in Italy (119%). In countries such as Belgium, Ireland, Iceland, Singapore and the U.S. national debt size is more than 90% of GDP. The volume of state debt per capita is large enough in these countries.

The countries with low debt burden include Russia along with Belarus. According to official statistics, over $1 thousand debt accounts for one Russian. The ratio of debt to GDP in Russia is 9.9%. According to these indices, Russia occupies 74th and 93rd places respectively.