By Jonathan Davies

Global debt has nearly reached $200 trillion for the first time after a $57tn increase since the global financial crisis, according to a study by McKinsey Global Institute.

The $199tn figure means that global debt is now 286% of the world's entire GDP.

Since the financial crisis, governments have increased their debt by $25tn. Of the world's 47 biggest economies, only Israel, Egypt, Romania, Saudi Arabia and Argentina have reduced their debt.

In stark contrast, China's debt is up 83% and Portugal, Greece, Singapore and Ireland have all seen debt rise by 100% or more.

The UK's debt is up 30% to 252% of the country's GDP, excluding the financial sector and City debts.

Join us on
Follow @freshbusiness