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Key Takeaways

• Global government debt rose from $19.7T in 2000 to $111T in 2025.

• The sharpest increases followed the 2008 financial crisis and 2020 pandemic.

• The U.S. and China drove a growing share of the total over time.

Global government debt has crossed a new milestone. Gross public debt worldwide reached $111 trillion in 2025, more than five times the $19.7 trillion recorded in 2000.