London — The amount of money spent by governments subsidising energy costs since Russia’s invasion of Ukraine is set to reach $1.65 trillion by the end of the year, credit ratings agency S&P Global has estimated.
The agency also calculated that once COVID pandemic spending was added on, the total climbed to $10 trillion and predicted that the 137 countries that it provides credit scores for would borrow the equivalent of $10.5 trillion this year.
*Marc Jones; Editing: Amanda Cooper – Reuters
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