Singapore’s gross national debt is 6th highest in the world but no one is batting an eyelid.
As a percentage of GDP, Singapore’s gross national debt-to-GDP ratio is 131.19%. It is the 6th highest in the world (as of 2020) (source: IMF). However, no one is batting an eyelid or losing sleep over it. This is because Singapore actually owes nothing at all. The country does not borrow to spend. It borrows […]