Thus, in Italy, debt servicing costs exceed the defense budget by…

Thus, in Italy, debt servicing costs exceed the defense budget by nearly three times, and in the United States, by more than two times.

Consensus

• Most G7 countries spend more on servicing government debt than on defense.
• The data comes from Scope Ratings and is reported by Bloomberg.
• Italy spends nearly three times more on debt servicing than on defense.
• The United States spends more than twice as much on debt servicing as on defense.
• France and the UK spend almost twice as much on debt servicing as on defense.
• Germany spends about 35% of its defense budget on debt servicing.
• Scope Ratings' expert Eiko Zivert stated that high debt burden and primary budget deficit increase financial vulnerability to market changes.
• In the next five years, the US, Japan, and France will face historically high debt servicing costs.

Coverage (2 sources)

• Bloomberg learned about the main expenditures of G7 countries — Коммерсантъ
• Most G7 countries spend more on debt repayment than on defense, Bloomberg reports citing company calculations... — ТАСС (Telegram)

Key entities

• Bloomberg
• G7
• USA
• Scope Ratings
• France
• Italy
• Great Britain
• Japan
• Canada
• Germany