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Cuba Facts
is an ongoing series of succinct fact sheets on various topics,
including, but not limited to, political structure, health, economy,
education, nutrition, labor, business, foreign investment, and
demographics, published and updated on a regular basis by the Cuba
Transition Project staff.
Cuba in Context: National Debt
and GDP
Table I.
National Public Debt: Cuba and Select Countries, Western Hemisphere,
2007*
|
Country
(ranked by national public debt as percentage of GDP) |
Gross Domestic Product
(Purchasing Power Parity) |
National Debt: Percentage of GDP
|
|
Jamaica |
$13.47 billion |
134 % |
|
Cuba
[1] |
$51.11 billion |
86 %
|
|
Canada |
$1.274 trillion
|
64 % |
|
Argentina |
$523.7 billion |
59 % |
|
Nicaragua |
$18.17 billion |
56 % |
|
Colombia |
$320.4 billion |
54 % |
|
Costa Rica |
$55.95 billion |
47 % |
|
Bolivia |
$39.78 billion |
46 % |
|
Brazil |
$1.838 trillion |
44 % |
|
Dominican Republic |
$85.4 billion |
40 % |
|
El Salvador |
$35.97 billion |
38 % |
|
United States
[2] |
$13.86 trillion |
36 % |
|
Mexico |
$1.353 trillion |
23 % |
|
Chile |
$234.4 billion |
4 % |
|
*Sources:
GDP and national public debt data as of 2007. Cf. U.S. CIA,
The World Factbook 2008,
online edition, accessed March 2008. Comparative rankings on
indebtedness as a percentage of GDP as compiled by U.S. CIA in
The World Factbook 2008,
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html.
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Table II.
National Public Debt: Top 10 Indebted Countries, World, 2007*
|
Country
(ranked by national public debt as percentage of GDP) |
Population |
Gross Domestic Product
(Purchasing Power Parity) |
National Debt: Percentage of GDP
|
|
Japan |
127.3 million |
$4.417 trillion |
194 % |
|
Zimbabwe |
12.4 million |
$6.186 billion |
190 % |
|
Lebanon |
4 million |
$40.65 billion |
188 % |
|
Seychelles |
82,000 |
$1.655 billion |
143 % |
|
Jamaica |
2.8 million |
$13.47 billion |
134 % |
|
Italy |
51.1 million |
$1.8 trillion |
106 % |
|
Egypt |
81.7 million |
$431.9 billion |
105 % |
|
Singapore |
4.6 million |
$222.7 billion |
101 % |
|
Sudan |
40.2 million |
$107.8 billion |
97 % |
|
Cuba |
11.2 million |
$51.11 billion |
86 % |
|
*Source:
Public debt and national GDP data for 2007 as estimated by U.S.
CIA, The World Factbook
2008, online
edition,
https://www.cia.gov/library/publications/the-world-factbook/index.html.
Accessed April
2008. |
Notes
1. For Cuba, given that all national
debt is held by the state or state-owned entities, foreign debt is
used as a proxy for the equivalent of national "public" debt. As of
the end of 2007, the Cuban government's total known foreign
obligations stood at approximately $43.844 billion, or about 86
percent of the island's GDP ($51.11 billion).
2. The United States' federal debt "held
by the public," as defined and calculated by the U.S. Department of
the Treasury, stood at $5.049 trillion at the end of fiscal year 2007,
or about 36 percent of the country's GDP ($13.86 trillion). Cf. United
States Government Accountability Office, "Financial Audit: Bureau of
the Public Debt's Fiscal Years 2007 and 2006 Schedules of Federal Debt,"
(Washington, DC: GAO), November 2007,
http://www.treasurydirect.gov/govt/reports/pd/feddebt/feddebt.htm.
The CTP can be contacted at P.O. Box
248174, Coral Gables, Florida 33124-3010, Tel: 305-284-CUBA (2822),
Fax: 305-284-4875, and by email at
ctp.iccas@miami.edu. The CTP Website is accessible at
http://ctp.iccas.miami.edu/. |
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