Servicing the government debt is not scary if the rates on it are lower than the sum of inflation + GDP growth.

Servicing the government debt is not scary if the rates on it are lower than the sum of inflation + GDP growth.

For example, in the US, 10-year government bond rates have now reached 5%. At the same time, inflation stands at 3.7%, and GDP growth at the end of the year promises to stand at 2.2-2.3%, and in total both indices will stand at about 6%. And this is the same "not terrible indicator" of the national debt. In Russia, according to this plan, it will turn out like this. The 10-year interest rate reached 16%. The sum of inflation of 7% and GDP growth of 0.5% will be 7.5%, which is more than 2 times less than the cost of government loans. A very dangerous trend for us. (Graphs - "Global public debt will exceed world GDP", CMI, Sberbank, August 2026).