And I always thought debt was a bad thing

G7 (also known as the G-7 or Group of Seven) is the meeting of the finance ministers from a group of seven industrialized nations.  The finance ministers of these countries meet several times a year to discuss economic policies. 

Now here is some data as of 2006 

1. France – Public Debt: 64.7% of GDP 

2. Italy – Public Debt: 107.8% of GDP

3. Germany – Public Debt: 66.8% of GDP

4. United Kingdom – Public Debt: 42.2% of GDP

5. United States – Public Debt: 64.7% of GDP (Change that to 71%)

6. Japan –  Public Debt: 176.2% of GDP

7. Canada – Public Debt: 65.4% of GDP

If high debt is considered a bad indicator of economy , then how come these countries are part of G7 that meet  “several times a year to discuss economic policies.” Maybe an economist can help me understand that.

Countries which are not part of G7

India – Public Debt 52.7 % of GDP

Brazil – Public Debt: 50% of GDP

China – Public Debt: 22.1% of GDP

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1 Comment

Filed under Business, Delhi, Economy, Fact, Funny, India, Indian Politics, News, Politics, US

One response to “And I always thought debt was a bad thing

  1. I don’t know the answer to your question, but as I understand it, taking into account Northern Rock, PFI debt and a few other ‘incidentals’ current stimates are that our 2008 figure will be 103%.

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