Tuesday, November 29, 2011
World's Richest Governments
World's Richest Governments
We know the world's richest man is Carlos Slim Helu of Mexico,
After the two richest men in the world , Bill Gates n Warrent Buffet , gave away most of their fortune to charity )
You'll have to check with Forbes for the rest.
How about
governments
?
Which government is the richest (having most money that is, in US$)?
If you are expecting North American and European nations, wrong .........
While the countries may
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 US$150bn if asked to now without resorting to borrowing
.
)
To date the US government has borrowed $14.5 trillion!
The UK, likewise, while the country/people are well off, the government isn't.
The UK government's debt stands at $9 trillion now!
The
World's Richest Governments
immediately after the 2008-2009 financial crisis are: -
1.
P R of 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 (ROC)
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: $255,000,000,000
Here are the rest, in million US$:
11 Singapore / 203,436
12 Germany / 189,100
13 Thailand / 150,000
14 Algeria / 149,000
15 France / 140,848
16 Italy / 133,104
17
United States
/ 124,176
18 Mexico / 100,096
19
Iran
/ 96,560
20 Malaysia / 96,100
21 Poland / 85,232
22 Libya / 79,000
23 Denmark / 76,315
24 Turkey / 71,859
25 Indonesia / 69,730
26
United Kingdom
/ 69,091
27 Israel / 62,490
28
Canada
/ 57,392
29 Norway / 49,223
30 Iraq / 48,779
31 Argentina / 48,778
32 Philippines / 47,650
33 Sweden / 46,631
34
United Arab Emirates
/ 45,000
35 Hungary / 44,591
36 Romania / 44,056
37 Nigeria / 40,480
38 Czech Republic / 40,151
39
Australia
/ 39,454
40 Lebanon / 38,600
41 Netherlands / 38,372
42 South Africa / 38,283
43 Peru / 37,108
44 Egypt / 35,223
45 Venezuela / 31,925
46 Ukraine / 28,837
47 Spain / 28,195
48 Colombia / 25,141
49 Chile / 24,921
50 Belgium / 24,130
51 Brunei / 22,000
52 Morocco / 21,873
53 Vietnam / 17,500
54
Macau
/ 18,730
55 Kazakhstan / 27,549
56 Kuwait / 19,420
57 Angola / 19,400
58 Austria / 18,079
59 Serbia / 17,357
60 Pakistan / 16,770
61
New Zealand
/ 16,570
62 Bulgaria / 16,497
63 Ireland / 16,229
63 Portugal / 16,254
64 Croatia / 13,720
65 Jordan / 12,180
66 Finland / 11,085
67 Bangladesh / 10,550
68 Botswana / 10,000
69 Tunisia / 9,709
70 Azerbaijan / 9,316
71 Bolivia / 8,585
72 Trinidad and Tobago / 8,100
73 Yemen / 7,400
74 Uruguay / 8,104
75 Oman / 7,004
76 Latvia / 6,820
77 Lithuania / 6,438
78 Qatar / 6,368
79 Cyprus / 6,176
80 Belarus / 6,074
81 Syria / 6,039
82 Uzbekistan / 5,600
83 Luxembourg / 5,337
84 Guatemala / 5,496
85 Greece / 5,207
86 Bosnia and Herzegovina / 5,151
87 Cuba / 4,247
88 Costa Rica / 4,113
89 Equatorial Guinea / 3,928
90 Ecuador / 3,913
91
Iceland
/ 3,823
92 Paraguay / 3,731
93 Turkmenistan / 3,644
94 Estonia / 3,583
95 Malta / 3,522
96 Myanmar / 3,500
97 Bahrain / 3,474
98 Kenya / 3,260
99 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 Príncipe / 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. The PRC overspent $110bn last year, much of 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 bankrupt.
Greece's debt is 113.40% GDP, in
danger
as it is not considered a strong industrial or financial country, as we already know.
Iceland’s debt is 107.60% GDP, also in
crisis
as it is not so strong industrially or financially.
Singapore’s debt 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’s debt is 189.30%, still under radar as a powerful Industrial nation. It needs to panic only at around 200%.
The US has the world largest debt, but it is only 62% of its GDP, it is not in any immediate danger of bankruptcy.
Zimbabwe’s debt is 282.60% GDP, it is a kaput nation.
Malaysia’s debt is currently At 53.70% GDP.... would have been much better if not for billions wasted thru corruption and mismanagement by UMNO.
Hong Kong and Taiwan are 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, and are all comparatively small:
Brunei, Liechtenstein, Palau, Nieu, and Macau (China)\
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