The coronavirus pandemic may have contributed to soaring public debt levels, leaving many governments facing fiscal pressures in the coming decades, the Organization for Economic Cooperation and Development (OECD) stated in a new report on Oct. 19.
According to the OECD’s economic outlook to 2060, governments worldwide must grapple with the costs of repaying debt generated by supporting businesses and individuals during the COVID-19 public health crisis. At the same time, officials will need to contend with ballooning costs for public services and aging populations.
