High inflation and interest rates have driven government debt interest spending close to postwar levels

Debt interest spending as a percentage of GDP

Debt interest spending as a percentage of revenue

Effective interest rate

12%

Projection

10

8

6

4

2

0

1960

1970

1980

1990

2000

2010

2020

Debt interest spending as a percentage of revenue

Debt interest spending as a percentage of GDP

Effective interest rate

12%

Projection

10

8

6

4

2

0

1960

1970

1980

1990

2000

2010

2020