Which countries are in the biggest bubble and which ones are in bubble state?
The UK is in a bubble, according to a new report from the World Bank, but many other countries are experiencing a bubble.
According to the Bank, the UK is the biggest economy in the world with the world’s third-biggest GDP and the world-leading economy in terms of gross domestic product.
But that is not enough to keep it afloat, as the UK has a huge debt burden and is not paying back the £1.3 trillion that it borrowed from the EU.
Inflation is also rising and the Bank predicts the country will be in recession by 2019-20.
The UK is not alone.
Many other countries around the world are facing a debt crisis, the Bank said, and are expected to run out of cash in about two years.
“The biggest threat to the UK’s economy is the rising tide of inflation, and as the cost of living rises it is likely to cause households to reduce their spending and businesses to shrink,” the report said.
It warned that “the country’s low growth prospects and the need to borrow in the face of rising inflation” will make it harder to make a transition from an ageing population to an ageing economy.
Britain has the world fourth-bigest debt in terms at the end of 2016, the World Development Indicators (WDI) reported.
At the same time, the debt is lower than the debt of the UK as a whole, which is expected to reach around £2 trillion by 2020.
What are the UKs debt levels and where is it heading?
UK government debt is estimated to be £1 trillion by the end to 2019.
That is slightly less than the total debt of countries like France, the US and Germany.
Of the UK Government’s debt, £1 billion is due to interest payments on a 10-year note.
There are also £500 billion in interest-free loans, £200 billion in government bonds and £250 billion in Treasury bonds, the bank said.
What are its main debts and where are they going?
The main debts of the British government are: