World's Richest Government. . .
Interesting attachment for those who are financially inclined to get a better perspective on the world's economies
Enjoy and Have a Great Week!!!!
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 now 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: $2,454,300,000,000
2. Japan
National reserves: $1,019,000,000,000
3. Russia
National reserves: $458,020,000,000
4. Saudi Arabia
National reserves: $395,467,000,000
5. Taiwan
National reserves: $362,380,000,000
6. India
National reserves: $279,422,000,000
7. South Korea
National reserves: $274,220,000,000
8. Switzerland
National reserves: $262,000,000,000
9. Hong Kong, China
National reserves: $256,000,000,000
10. Brazil
National reserves: $255,000,000,000
Here are the rest, in million US$:
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 PrÃncipe / 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.
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