My country….tis not free of debt

A few countries that do not have debt

1. Brunei

2. Kuwait

3. Qatar

4. Saudi Arabia

5. United Arab Emirates

6. Norway

7. Singapore

8. Canada

9. Australia

10. New Zealand

There are some democracies that do not have debt. Countries such as Norway, Finland, Denmark, and Switzerland have strong economies and have managed to stay out of debt. These countries have very stringent fiscal policies which have enabled them to remain in a debt-free state.

Debt-free democracies typically use a combination of fiscal policies to remain free of debt. These policies can include tax policies such as a progressive income tax and targeted taxes on high-income earners. In addition, mandatory budget, revenue and expenditure caps can be imposed to ensure that spending remains within a certain limit. Governments may also use austerity measures aimed at reducing public spending, or regulations aimed at discouraging indebtedness such as limits on borrowing and debt-to-income ratios. Monetary policy can also play an important role, as governments may use deflationary measures such as restricted access to borrowing to reduce debt and enhance fiscal discipline. Finally, economic stimulus packages may be used to promote economic growth as an alternative to public expenditure.