Interesting attachment for those who are financially inclined to get a better perspective on the world’s economies
We know the world’s richest man is Carlos Slim Helu of Mexico,
followed by Bill Gates and Warren Buffet of USA .
How about governments?
Which countries’ government is the richest (having most money that is, in US $)
If you are expecting North American and European nations, you might be disappointed.
While the countries look rich, wealthy European nations can’t withstand a prolonged major financial crisis, just like Greece .
The USA might have the biggest economy, but the American government is not at all rich; in fact, it can’t even take out $150bn if asked to without resorting to borrowing.
To date the US government has borrowed $14 trillion!
The UK , likewise, while the country/people are rich, the government isn’t.
The UK government’s debt stands at $9 trillion now.
World’s Richest Government
Richest governments after 2008-2009 financial crisis:
1. China
National reserves: $2,454,300 Million.
National reserves: $2,454,300 Million.
2. JapanNational reserves: $1,019,000 Million.
3. RussiaNational reserves: $458,020 Million.
4. Saudi ArabiaNational reserves: $395,467 Million.
5. TaiwanNational reserves: $362,380 Million.
6. IndiaNational reserves: $279,422 Million.
7. South Korea
National reserves: $274,220 Million.
National reserves: $274,220 Million.
8. SwitzerlandNational reserves: $262,000 Million.
9. Hong Kong , ChinaNational reserves: $256,000 Million.
10. BrazilNational reserves: $255,000 Million.
Here are the rest, in Million US $:
011 Singapore / 203,436
012 Germany / 189,100
013 Thailand / 150,000
014 Algeria / 149,000
015 France / 140,848
016 Italy / 133,104
017 United States / 124,176
018 Mexico / 100,096
019 Iran / 96,560
020 Malaysia / 96,100
021 Poland / 85,232
022 Libya / 79,000
023 Denmark / 76,315
024 Turkey / 71,859
025 Indonesia / 69,730
026 United Kingdom / 69,091
027 Israel / 62,490
028 Canada / 57,392
029 Norway / 49,223
030 Iraq / 48,779
031 Argentina / 48,778
032 Philippines / 47,650
033 Sweden / 46,631
034 United Arab Emirates / 45,000
035 Hungary / 44,591
036 Romania / 44,056
037 Nigeria / 40,480
038 Czech Republic / 40,151
039 Australia / 39,454
040 Lebanon / 38,600
041 Netherlands / 38,372
042 South Africa / 38,283
043 Peru / 37,108
044 Egypt / 35,223
045 Venezuela / 31,925
046 Ukraine / 28,837
047 Spain / 28,195
048 Colombia / 25,141
049 Chile / 24,921
050 Belgium / 24,130
051 Brunei / 22,000
052 Morocco / 21,873
053 Vietnam / 17,500
054 Macau / 18,730
055 Kazakhstan / 27,549
056 Kuwait / 19,420
057 Angola / 19,400
058 Austria / 18,079
059 Serbia / 17,357
060 Pakistan / 16,770
061 New Zealand / 16,570
062 Bulgaria / 16,497
063 Ireland / 16,229
063 Portugal / 16,254
064 Croatia / 13,720
065 Jordan / 12,180
066 Finland / 11,085
067 Bangladesh / 10,550
068 Botswana / 10,000
069 Tunisia / 9,709
070 Azerbaijan / 9,316
071 Bolivia / 8,585
072 Trinidad and Tobago / 8,100
073 Yemen / 7,400
074 Uruguay / 8,104
075 Oman / 7,004
076 Latvia / 6,820
077 Lithuania / 6,438
078 Qatar / 6,368
079 Cyprus / 6,176
080 Belarus / 6,074
081 Syria / 6,039
082 Uzbekistan / 5,600
083 Luxembourg / 5,337
084 Guatemala / 5,496
085 Greece / 5,207
086 Bosnia and Herzegovina / 5,151
087 Cuba / 4,247
088 Costa Rica / 4,113
089 Equatorial Guinea / 3,928
090 Ecuador / 3,913
091 Iceland / 3,823
092 Paraguay / 3,731
093 Turkmenistan / 3,644
094 Estonia / 3,583
095 Malta / 3,522
096 Myanmar / 3,500
097 Bahrain / 3,474
098 Kenya / 3,260
099 Ghana / 2,837
100 El Salvador / 2,845
101 Sri Lanka / 2,600
102 Cambodia / 2,522
103 Côte d’Ivoire / 2,500
104 Tanzania / 2,441
105 Cameroon / 2,341
106 Macedonia / 2,243
107 Dominican Republic / 2,223
108 Papua New Guinea / 2,193
109 Honduras / 2,083
110 Armenia / 1,848
111 Slovakia / 1,809
112 Mauritius / 1,772
113 Albania / 1,615
114 Kyrgyzstan / 1,559
115 Jamaica / 1,490
116 Mozambique / 1,470
117 Gabon / 1,459
118 Senegal / 1,350
119 Georgia / 1,300
120 Panama / 1,260
121 Sudan / 1,245
122 Zimbabwe / 1,222
123 Slovenia / 1,105
124 Moldova / 1,102
125 Zambia / 1,100
126 Nicaragua / 1,496
127 Mongolia / 1,000
128 Chad / 997
129 Burkina Faso / 897
130 Lesotho / 889
131 Ethiopia / 840
132 Benin / 825
133 Namibia / 750
134 Madagascar / 745
135 Barbados / 620
136 Laos / 514
137 Rwanda / 511
138 Swaziland / 395
139 Togo / 363
140 Cape Verde / 344
141 Tajikistan / 301
142 Guyana / 292
143 Haiti / 221
144 Belize / 150
145 Vanuatu / 149
146 Malawi / 140
147 Gambia / 120
148 Guinea / 119
149 Burundi / 118
150 Seychelles / 118
151 Samoa / 70
152 Tonga / 55
153 Liberia / 49
154 Congo / 36
155 São Tomé and Príncipe / 36
156 Eritrea / 22
Big national reserves doesn’t guarantee prosperity however, for instance, the yearly expenses for China ‘s government is $1.11 trillion, their government must always think of economic growth and making more money.
China’s gov’t overspent $110bn last year, much on it towards modernizing their military, if it goes on like this their reserves can only last for 22 yrs.
The Malaysian gov’t overspent $13bn last year, if it goes on like this their reserves can only last for 7 yrs.
The Singaporean government overspent $3bn last year, much of it rescuing their banks from financial crisis, if it goes on like this their reserves can last 68 yrs.
The Swiss gov’t overspent $1bn last year, if it goes on like this their reserves can last 262 yrs.
A country normally can borrow up to 100% its GDP, a very strong industrial country or very financial stable nation can borrow up to perhaps 200% its GDP, debts over 250% GDP the country is bankrupted.
Greece ‘s Debts Is 113.40% GDP, In Danger As It Is Not Considered A Strong Industrial Or Financial Country.
Iceland Is 107.60%, Also In Crisis As It Is Not So Strong Industrial Or Financially.
Singapore Debts Is 113.10%, Not In Hot Water Due To Its Global Financial Hub Status, And Also Its Financial Strength. It’s Only Dangerous For Singapore When It Reaches 200%
Japan Debts Is 189.30%, Still Under Radar As A Powerful Industrial Nation. It Needs To Panic Only At Around 200%
US Has The World Largest Debts, But It Is Only 62% Its GDP, It Is Not In Any Immediate Danger Of Bankruptcy.
Zimbabwe Debts Is 282.60% GDP, It Is A Bankrupted Nation.
Malaysia Debts Is Currently At 53.70% GDP.
Hong Kong And Taiwan Is Doing Pretty Good With Debts At 32-37% GDP
South Korea Is Even Better With Debts At 23.5% GDP
China Is Very Stable With Debts At 16.90% GDP
Russia Is Like A Big Mountain With Debts Only At 6.30% GDP
There Are Only 5 Countries With No Debt (I.E. 0%) –
Brunei, Liechtenstein , Palau , Nieu, And Macau Of China