BENGALURU: The global economical environment talks about the falling stock markets, possibilities of deflation and debt crisis. The world debt is escalating every day making way towards an economic collapse. Despite close monitoring of possibilities to debt, the nations worldwide are leading to financial instability. In this scenario, is raising the taxes the only option left for the governments?

From the Chinese slowdown to the acute debt crisis in Greece-these economic boils are enough to send an alarm to the developing countries that a financial crisis never arrives with prior information. Enlisting more of such countries Global Competitiveness Survey was released by the World Economic Forum. The survey enlists the countries that are drowning under government debts on the basis of government debt-to-GDP ratio.  

Here have a look at the top 10 countries on that list, reports Lianna Brinded, Business Insider.

#10 United States

Debt-to-GDP ratio: 104.5pct

Despite the huge asset base worth $3.2 tn according to U.S. Government Accountability Office, U.S. comes across as surprising name on this list. With the federal debt hitting $19 tn lately, the financial concerns in the country are on the rise. The overspending mainly in the areas of defense expenses, social security program and healthcare programs are the key reasons for the increasing debt in the country.

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