The US national debt will reach 140 percent of GDP by 2031, according to an IMF economic assessment.
“Under current approaches, the deficit is expected to reach seven to eight percent of GDP, which will lead to a government debt of 140 percent of GDP by 2031“, the statement said.
The IMF believes that to resolve the situation, the United States needs a clear and targeted fiscal consolidation plan.
According to the US Treasury Department, as of February 24, the US national debt reached $37.787 trillion. Exactly one year earlier, it stood at $36.219 trillion.