GOVERNMENT DEBT

GOVERNMENT DEBT Belgium's net public debt (gross debt minus the social-security surplus) is forecast to fall to 98% of GDP in 2001, down from 116% in 1991. The country will still be the OECD's biggest debtor by that measure. Only slightly less in the red is Italy, which will have net debt of 97% of GDP, up from 89% a decade earlier. Japan's net government debt will have soared from 5% to 50% of GDP. Despite record budget surpluses, America's net debt is still 41% of its GDP. Only Finland and Norway have appreciable net public assets.