Global developed market debt to hit record $75.8 trillion by end of 2026: Fitch

Government debt in developed nations will reach $75.8 trillion by 2026. This debt burden represents 104% of gross domestic product for these countries. Major global shocks and rising spending pressures contribute to this significant increase. Higher borrowing costs and defense budgets also add to the growing debt. Artificial intelligence may offer economic growth but also presents new fiscal challenges.