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26 Aug, 2011

gulfnews : A world of debt: Global liabilities grow faster than GDP

Every human being on earth currently carries a debt burden of nearly $22,733 on average, if the latest reports are to be believed.

Every child is sharing the same debt burden at birth, as debt growth rates beat the global population growth rate. In fact, debt liabilities are growing faster than GDP expansion rates.

Overall outstanding debt worldwide has more than doubled in the past ten years to $158 trillion (Dh580 trillion) in 2010, up from $78 trillion in 2000, according to a recent report by global consultancy McKinsey.

via gulfnews : A world of debt: Global liabilities grow faster than GDP.