Government debt costs in richest nations at highest since 2007
by Phillip Inman from on (#6W2X8)
Payments by OECD countries outstrip amount spent on defence, police services and housing, report finds
The cost of government debt payments in the world's richest nations last year reached its highest level since 2007, outstripping the amount spent on defence, police services and housing, a report has found.
Across the 38 members of the Organisation for Economic Co-operation and Development (OECD), debt service costs as a percentage of national income rose to 3.3% in 2024, from 2.4% in 2021.
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