According to data from the OECD cited by the Financial Times, interest payments by OECD member governments will exceed $2 trillion by 2025, representing approximately 3% of GDP; the interest payments of the United States, the United Kingdom, and France have already surpassed their defense spending.
While the absolute amount is primarily contributed by large economies such as the United States, a more accurate measure of fiscal pressure is its proportion of GDP: in 2024, US interest payments were equivalent to 4.7% of GDP, the United Kingdom 2.9%, and Germany only 1%.
