Overview

• The IMF has raised its 2025 global fiscal deficit forecast to 5.1% of GDP and public debt to 92.3%, citing trade policy uncertainty and post-pandemic spending.
• Global public debt is projected to approach 100% of GDP, equating to approximately $85 trillion, marking unprecedented levels in modern economic history.
• The United States remains the largest contributor to global debt, with public debt exceeding 120% of GDP and projected to reach $37 trillion in 2025.
• Spain is forecasted to close 2025 with a 2.7% fiscal deficit and public debt at 100.6% of GDP, aligning with its government's expectations.
• The IMF emphasizes the need for coordinated fiscal and monetary policies to reduce global debt to 93% of GDP and deficits to 2% by 2030.