Fitch Ratings has forecast that advanced economy government debt will reach a record 75.8 trillion dollars by the end of 2026. That equates to 104 percent of total GDP, a sharp increase from 26 trillion dollars and 68 percent of GDP two decades ago. The ten largest advanced economies will account for 69 trillion dollars, or 114.5 percent of GDP, with the US fiscal deficit expected to be the largest at around 2.5 trillion dollars, or 7.8 percent of GDP. Countries are facing structural spending pressures from defence, ageing populations, climate change responses, and rising interest costs, while the risk of higher sovereign bond yields is also growing.