Words / N / Business

national debt

noun

A2CEFR level
20/100Rarity: fairly common
TechnicalRegister

The total amount of money a government owes to its lenders, accumulated from past borrowing.

Rising interest rates mean servicing the national debt now swallows a large share of the budget.

Similar: public debt, sovereign debt

Topic: Economics in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Economics