How much foreign aid does the US give 2023?

Preliminary figures for 2023 currently indicate U.S. foreign aid may have dipped back down to about $45 billion, but data is incomplete. Updated on Jan. 18, 2024: This article has been updated with finalized 2022 data.

How much does the US provide in foreign aid?

Foreign aid in recent years

In 2021, the United States provided more than $50 billion in aid to over 150 countries and territories, as well as 30 regional funds that go to multiple countries, and a fund for international institutions and NGOs.

How much money has the US given to other countries this year?

In 2022, the United States budgeted $38 billion for foreign aid spending. As of this reporting, it has disbursed over $32 billion.

Why does the US give money to other countries?

Contributing to U.S. national security by supporting allies in promoting regional and global stability and peace. Reflecting the core U.S. value of caring for others in need—providing humanitarian assistance to victims of war, violence, famine, and natural disasters.

Why did the US send so much money in aid overseas?

Foreign aid is used to support American national security and commercial interests and can also be distributed for humanitarian reasons.

Foreign aid: who gives the most, and where does it go?

Do other countries owe money to the US?

With a debt of $290.5 billion, Switzerland ranks as one of the top countries that owe the US money. Investors in Switzerland have also increased their holdings of US debt. The country's other main creditors include countries such as Germany and France.

Does China give more foreign aid than the US?

The OECD has estimated that the quantity of China's ODA-like aid in 2018 was $4.4 billion. If counted as ODA, this would have placed China tenth in the list of donor states that year, between Norway and Canada, and far behind the United States which provided $34 billion.

How much money does the US give to Israel every year?

In 1999, the US government signed a Memorandum of Understanding through which it committed to providing Israel with at least US$2.67 billion in military aid annually, for the following ten years; in 2009, the annual amount was raised to US$3 billion; and in 2019, the amount was raised again, now standing at a minimum ...

Why is Ukraine important to the United States?

In his State of the Union address, President Joe Biden made clear that backing Ukraine matters “because it keeps the peace and prevents open season for would-be aggressors to threaten our security and prosperity.” Without NATO's support for Ukraine, which has created the quagmire that Russia now faces, the United ...

What percent of US budget is foreign aid?

In Fiscal Year (FY) 2022, the federal government obligated a total of $70.4 billion in foreign aid, about 1 percent of total spending. This share is consistent with trends over the past 20 years, with foreign aid obligations averaging less than 2 percent of total federal spending.

How does United States foreign aid affect the American economy?

By supporting economic growth in developing countries, USAID helps create better, stronger and more resilient markets for U.S. exports. In addition, USAID programs benefit supply chains of strategic importance to specific U.S. industries that rely on key imports from developing countries for their production.

Is foreign aid effective?

Aid had no clear effect on poverty, inequality, economic growth or democratic institutions. Aid most effectively reduced poverty when it supported public expenditures on agriculture, education and infrastructure. Aid was on average effective in reducing poverty. Aid had a modest positive effect on economic growth.

How much does the US spend on Social Security?

Social Security: In 2023, 21 percent of the budget, or $1.4 trillion, will be paid for Social Security, which will provide monthly retirement benefits averaging $1,836 to 48.6 million retired workers.

How much money does the US give to Mexico?

View GAO-23-103795. For more information, contact Chelsa Kenney at (202) 512-2964 or [email protected]. Since 2008, the U.S. has provided over $3 billion in assistance to Mexico to address crime and violence and enhance the country's rule of law.

Who gives the most aid to Africa?

With this funding, the United States has provided more than $4 billion in humanitarian assistance this fiscal year to respond to the needs of refugees, internally displaced persons, and people affected by conflict and crisis on the African continent.

How much aid does Africa receive?

Aid to African countries totalled US$ 53.5 billion in 2022, or 25.6% of aid. In 2022, 15.3% of aid went to low-income countries, 32.5% to lower-middle income, 9.2% to upper middle income, and 0.1% to high-income countries.

How much money does the US give to Jordan?

Since 1951, the U.S. has provided more than $20 billion in assistance to Jordan.

Is China's economy better than the US?

An alternative measure of country wealth is based on Purchasing Power Parity (PPP), and is widely believed to be more reliable as a measure of relative GDP between countries than simple dollar values. In 2022, the IMF judged the Chinese economy in PPP terms to be 23% larger than America.

Is China's economy doing better than the US?

US gross domestic product rose 6.3% in nominal terms, compared to China's 4.6% gain in 2023. The US economy is emerging from the pandemic period in a better place than China's.

Do we still give China foreign aid?

“From the limited information shared with us, we've established that most aid funding to China from across government has ended. Remaining aid spend will focus on higher education, English language, arts and culture and, to a lesser extent, human rights.

Who does us owe 31 trillion to?

Many people believe that much of the U.S. national debt is owed to foreign countries like China and Japan, but the truth is that most of it is owed to Social Security and pension funds right here in the U.S. This means that U.S. citizens own most of the national debt.

Which country has no debt?

1) Switzerland. It is no surprise to see Switzerland on this list. Switzerland is a country that, in practically all economic and social metrics, is an example to follow. With a population of almost 9 million people, Switzerland has no natural resources of its own, no access to the sea, and virtually no public debt.

What is the most indebted country in the world?

At the top is Japan, whose national debt has remained above 100% of its GDP for two decades, reaching 255% in 2023.