To solve for the debt-to-GDP ratio at the end of 2019, we would need to know:
1. The total debt as of the end of 2018, which is given as $3.5 billion.
2. The amount borrowed in 2019, which we need to know but is not provided in the question.
3. The GDP for the year 2019, which is given as $7.3 billion.
Here is the formula to calculate the debt-to-GDP ratio:
Debt-to-GDP ratio = (Total Debt at the end of the year) / (GDP for the same year)
Without the amount borrowed in 2019, we cannot determine the "Total Debt at the end of the year." Therefore, it is not possible to calculate the debt-to-GDP ratio with the information provided.
Please provide the amount borrowed in 2019 to proceed with the calculation. This value is crucial because it would increase the total debt, influencing the debt-to-GDP ratio. Once we have that number, we can simply add it to the total debt as of 2018 and then divide by the GDP for 2019 to find the ratio.
So the final step-by-step calculation would be:
1. Add the total debt from 2018 to the amount borrowed in 2019.
2. After obtaining the total debt at the end of 2019, divide that value by the GDP for 2019.
3. The result will be the debt-to-GDP ratio.
For example, if $1 billion was borrowed in 2019, then:
1. End-of-year total debt = $3.5 billion (from 2018) + $1 billion (borrowed in 2019) = $4.5 billion
2. Debt-to-GDP ratio = $4.5 billion (total debt) / $7.3 billion (GDP) ≈ 0.6164
To express the debt-to-GDP ratio as a percentage, we can multiply the ratio by 100:
Debt-to-GDP ratio (%) ≈ 0.6164 * 100 ≈ 61.64%
To give the precise debt-to-GDP ratio, the amount borrowed in 2019 must be provided.
