OECD member countries are collectively spending over $2 trillion annually just to service their debt, consuming approximately 3% of their combined GDP. US government debt reached a record $40 trillion in 2025, with net interest payments now exceeding defense spending. In the United Kingdom, annual debt interest payments stand at roughly £110 billion and could reach nearly 4% of GDP by 2030-31. France is also seeing its debt service costs exceed its defense budget, amid average G7 10-year government bond yields around 4%, their highest since 2008. Global public debt stands at nearly 94% of world GDP according to the IMF for 2025.
Source: Read the original article
