What the Dutch would lose to pay off the national debt

Excessive debt is no longer just something banana republics suffer from. Even the United States government has major problems with the level of national debt. But also in the NetherlandsD The national debt has increased significantly. Have you ever wondered if we can ever pay it back? It is possible, but the price is not tender.

Who has the highest national debt?

According to the Organization for Economic Cooperation and Development (OECD) Japan currently has the largest national debt for the size of its economy, which is 256% of gross domestic product (GDP). This means that the national debt is 256% of all services and goods produced in the country in a year.

Greece’s is already significantly smaller, as the national debt there is 192%. The next (big) country in the list is Italy with 173% of GDP.

It is also no secret from the USA that the national debt is increasing. Most recently, the so-called upper debt limit had to be raised due to the sharp rise in interest rates in order to be able to refinance it. This was already very controversial. But the US is not yet at the top of the list, accounting for 144% of GDP.

The Netherlands is still not bad in this list, with a debt of 54% of GDP. Belgium, on the other hand, is a bit further south in Europe and like the other southern EU countries, the national debt is also higher – at 105% of GDP to be precise.

countryRatio of government debt to GDP (source: OECD)
Japan256%
Greece192%
Italy173%
United States144%
The Netherlands54% (CBS: 49%)
Belgium105%
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Paying off the national debt will cost you half a year’s salary

If the Netherlands wants to pay off the national debt together, then it will all be relatively easy – at least one would think so. The GDP of the Netherlands was in 2022 $991.11 billion World Bank. According to the latest data from CBS, the national debt is 49% of that amount, or about $485.6 billion.

The Netherlands has an estimated population of 17.7 million people. If we divide that amount by that amount, the national debt is $27,433 billion. At the current euro-dollar exchange rate, that’s about 25,062 euros per Dutch resident. HThe average gross annual salary is 40,000 euros – and you haven’t even paid your taxes yet!

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