It is an accumulated stock, unlike the deficit, which measures a gap between revenue and spending over a period. The statistical coverage must be specified when comparing countries.
Public debt
In a nutshell
Public debt is the outstanding borrowing of general government that remains to be repaid.
On this page
Explained simply
A practical example
Hypothetical example: a government borrows to finance part of its spending; amounts not yet repaid contribute to its debt.
Further reading
Try it yourself
Compare two situations
Choose a situation to see its outcome, then test your understanding.
What this means
Starting with debt of 1,000, the stock becomes 1,150, assuming no other adjustments.
Educational scenarios. Amounts and rates are fictional, not current market conditions.