OECD countries' gross interest expenditure hit a record $2.24 trillion in 2025, with global debt servicing costs at 3.2% of GDP amid record borrowing forecasts for 2026.
Macro & Markets ·
Gross interest expenditure among OECD countries reached a record $2.24 trillion in 2025, up $180 billion year-over-year, with the United States accounting for approximately $1.45 trillion of that total. Interest costs on government debt now represent roughly 3.2% of global GDP, the second-highest level in at least two decades, while OECD countries are forecast to borrow $18 trillion in 2026, marking the highest annual borrowing total on record.