Sunday, August 18, 2019

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Maybe the economic problems aren’t so great. Debt as proportion of gross domestic product is much smaller than in US

Tuesday, August 9, 2011


\ There is seldom much about which to rejoice in Honduras when it comes to financial matters, particularly compared to the United States and countries in Europe.\ \ But with the constant threat of bankruptcy looming over countries such as Greece, Ireland, Italy, Portugal, and Spain, and Standard & Poor's downgrade of the US credit rating, suddenly Honduras's financial house does not seem so chaotic.\ \ The US public debt stands at more than $14.5 trillion, with an annual gross domestic product of about $14.7 trillion -- the US government's debt represents more than 98 percent of the market value of all the goods and services produced in the US in one year. As of March 31 this year, Honduras's public debt stood at just over $4.9 billion, with a gross domestic product estimated at $15.4 billion.\ \ Original source: Honduras Weekly\ \ \ \