Public Debt (% of GDP)
Public debt, sometimes also referred to as government debt, represents the total outstanding debt (bonds and other securities) of a country’s central government. It is often expressed as a ratio of Gross Domestic Product (GDP). Public debt can be raised both externally and internally, where external debt is the debt owed to lenders outside the country and internal debt represents the government’s obligations to domestic lenders. Public debt is an important source of resources for a government to finance public spending and fill holes in the budget. Public debt as a percentage of GDP is usually used as an indicator of the ability of a government to meet its future obligations.
The table below shows public debt as a percentage of Gross Domestic Product (GDP) by country for the last five years.
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Public Debt Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Albania | 65.6 | 70.1 | 72.7 | 72.3 | 70.1 |
| Algeria | 7.1 | 7.2 | 14.9 | 19.6 | - |
| Angola | 32.9 | 40.7 | 64.6 | 79.8 | - |
| Argentina | 43.5 | 44.7 | 52.6 | 53.3 | 57.1 |
| Armenia | 40.8 | 43.7 | 48.7 | 56.7 | 58.7 |
| Australia | 30.6 | 34.1 | 37.8 | 40.6 | 41.6 |
| Austria | 81.3 | 84.0 | 84.6 | 83.6 | 78.4 |
| Azerbaijan | 12.6 | 14.4 | 35.0 | 50.7 | - |
| Bahrain | 41.3 | 42.0 | 60.3 | 72.1 | 79.8 |
| Bangladesh | 35.8 | 35.3 | 32.4 | 32.1 | - |
| Belarus | 31.9 | 32.9 | 46.9 | 47.2 | 47.5 |
| Belgium | 106 | 107 | 106 | 106 | 103 |
| Belize | 79.1 | 77.1 | 80.0 | 86.6 | 94.9 |
| Bolivia | 36.1 | 37.0 | 40.6 | 46.2 | - |
| Bosnia and Herzegovina | 44.5 | 45.0 | 45.5 | 44.0 | - |
| Botswana | 17.4 | 17.3 | 16.3 | 15.5 | 15.6 |
| Brazil | 51.5 | 56.3 | 65.5 | 70.0 | 74.0 |
| Brunei | 2.2 | 3.2 | 3.0 | 3.0 | - |
| Bulgaria | 17.0 | 27.0 | 26.0 | 29.0 | 25.4 |
| Cambodia | 35.4 | 34.1 | 32.5 | 33.7 | 35.1 |
| Canada | 32.4 | 30.5 | 30.1 | 29.9 | 28.9 |
| Chile | 12.7 | 15.0 | 17.3 | 21.0 | 23.6 |
| China | 14.6 | 14.9 | 15.5 | 16.2 | 16.3 |
| Colombia | 34.9 | 37.4 | 41.1 | 42.4 | 43.0 |
| Costa Rica | 35.8 | 38.4 | 40.9 | 45.0 | 49.2 |
| Croatia | 80.5 | 84.0 | 83.8 | 80.6 | 78.0 |
| Cyprus | 103 | 108 | 108 | 107 | 97.5 |
| Czech Republic | 44.9 | 42.2 | 40.0 | 36.8 | 34.6 |
| DR Congo | 20.0 | 17.5 | 16.1 | 16.8 | - |
| Denmark | 44.0 | 44.3 | 39.9 | 37.9 | 36.4 |
| Dominican Republic | 37.0 | 36.0 | 35.1 | 36.9 | 38.9 |
| Ecuador | 24.0 | 29.6 | 33.0 | 38.7 | 45.2 |
| Egypt | 88.2 | 89.4 | 93.1 | 103 | - |
| El Salvador | 67.7 | 69.5 | 71.6 | 73.4 | 74.1 |
| Estonia | 10.2 | 10.7 | 10.0 | 9.4 | 9.0 |
| Ethiopia | 46.8 | 54.0 | 55.0 | 56.2 | - |
| Eurozone | 91.6 | 91.9 | 89.9 | 89.0 | 86.7 |
| Finland | 56.5 | 60.2 | 63.5 | 63.0 | 61.4 |
| France | 93.4 | 94.9 | 95.6 | 96.6 | 97.0 |
| Georgia | 34.7 | 35.6 | 41.4 | 44.6 | 44.9 |
| Germany | 77.5 | 74.7 | 71.0 | 68.2 | 64.1 |
| Ghana | 56.8 | 70.2 | 72.2 | 73.1 | - |
| Greece | 177 | 179 | 177 | 181 | 179 |
| Guatemala | 24.6 | 24.7 | 24.3 | 24.2 | 23.9 |
| Haiti | 21.5 | 26.3 | 30.2 | 33.9 | 31.1 |
| Hong Kong | 0.5 | 0.1 | 0.1 | 0.1 | 0.1 |
| Hungary | 77.1 | 76.6 | 76.7 | 76.0 | 73.6 |
| Iceland | 84.3 | 81.8 | 67.6 | 52.7 | 40.9 |
| India | 68.5 | 67.8 | 69.6 | 68.9 | 70.2 |
| Indonesia | 22.0 | 24.3 | 27.5 | 28.9 | 30.5 |
| Iran | 10.7 | 11.8 | 41.6 | 48.9 | 40.9 |
| Iraq | 31.2 | 32.0 | 55.1 | 64.4 | - |
| Ireland | 119 | 105 | 76.9 | 72.8 | 68.0 |
| Israel | 66.0 | 65.3 | 62.6 | 60.7 | 59.1 |
| Italy | 129 | 132 | 132 | 132 | 132 |
| Jamaica | 141 | 140 | 121 | 114 | 104 |
| Japan | 232 | 236 | 231 | 236 | - |
| Jordan | 86.7 | 89.0 | 93.4 | 95.1 | 95.3 |
| Kazakhstan | 12.3 | 14.3 | 22.1 | 24.4 | 26.0 |
| Kenya | 44.5 | 45.9 | 50.2 | 53.2 | 59.0 |
| Korea | 35.4 | 37.3 | 39.5 | 40.0 | 39.8 |
| Kosovo | 8.9 | 10.5 | 12.9 | 14.0 | 15.9 |
| Kyrgyzstan | 46.2 | 52.3 | 64.9 | 58.1 | - |
| Laos | 54.3 | 58.6 | 58.1 | 58.4 | - |
| Latvia | 39.0 | 40.9 | 36.8 | 40.5 | 40.1 |
| Lebanon | 138 | 139 | 142 | 151 | 153 |
| Lithuania | 38.8 | 40.5 | 42.6 | 40.1 | 39.7 |
| Luxembourg | 23.7 | 22.7 | 22.0 | 20.8 | 23.0 |
| Macedonia | 40.3 | 45.8 | 46.6 | 48.5 | 47.6 |
| Malaysia | 53.0 | 52.7 | 54.5 | 52.7 | 50.8 |
| Malta | 68.4 | 63.8 | 58.7 | 56.2 | 50.8 |
| Mexico | 40.0 | 42.6 | 46.6 | 48.7 | 46.2 |
| Moldova | 29.6 | 36.0 | 44.8 | 42.1 | - |
| Mongolia | 49.4 | 57.1 | 62.1 | 87.6 | - |
| Montenegro | 55.2 | 59.9 | 66.2 | 64.4 | 65.1 |
| Morocco | 61.7 | 63.4 | 63.7 | 64.7 | 64.5 |
| Mozambique | 53.1 | 62.4 | 88.1 | 119 | - |
| Myanmar | 33.2 | 29.9 | 34.5 | 35.7 | 34.7 |
| Netherlands | 67.7 | 67.9 | 65.2 | 62.3 | 56.7 |
| New Zealand | 35.7 | 34.7 | 35.4 | 34.3 | 32.5 |
| Nigeria | 12.9 | 13.1 | 16.0 | 19.6 | 23.4 |
| Norway | 29.7 | 27.3 | 31.8 | 35.3 | 36.2 |
| Oman | 4.9 | 4.9 | 12.8 | 31.4 | - |
| Pakistan | 62.6 | 62.7 | 61.8 | 65.5 | 65.0 |
| Panama | 35.0 | 37.1 | 38.8 | 39.1 | 37.8 |
| Paraguay | 14.4 | 17.6 | 20.0 | 22.8 | 24.1 |
| Peru | 20.0 | 20.1 | 23.3 | 23.8 | 24.8 |
| Philippines | 49.2 | 45.4 | 44.7 | 42.1 | 42.1 |
| Poland | 55.7 | 50.3 | 51.1 | 54.2 | 50.6 |
| Portugal | 129 | 131 | 129 | 130 | 126 |
| Puerto Rico | 94.2 | 97.8 | 95.1 | 91.5 | 91.0 |
| Qatar | 30.9 | 24.9 | 34.9 | 46.5 | 54.0 |
| Romania | 37.5 | 39.1 | 37.7 | 37.4 | 35.0 |
| Russia | 10.6 | 13.0 | 12.4 | 13.3 | 12.6 |
| Saudi Arabia | 2.1 | 1.6 | 5.8 | 13.1 | 17.1 |
| Serbia | 59.6 | 70.4 | 74.7 | 71.9 | 61.5 |
| Singapore | 103 | 98.1 | 101 | 108 | 112 |
| Slovakia | 54.7 | 53.5 | 52.3 | 51.8 | 50.9 |
| Slovenia | 70.4 | 80.3 | 82.6 | 78.6 | 73.6 |
| South Africa | 44.1 | 47.0 | 49.3 | 51.6 | 53.0 |
| Spain | 95.5 | 100 | 99.4 | 99.0 | 98.3 |
| Sri Lanka | 71.8 | 72.2 | 78.5 | 79.6 | 79.4 |
| Sweden | 40.7 | 45.5 | 44.2 | 42.1 | 40.6 |
| Switzerland | 30.3 | 30.6 | 30.0 | 29.1 | 29.7 |
| Taiwan | 33.8 | 32.8 | 31.6 | 31.2 | 30.7 |
| Tajikistan | 29.1 | 27.5 | 34.3 | 41.8 | 47.8 |
| Tanzania | 30.9 | 33.8 | 37.2 | 38.0 | - |
| Thailand | 42.2 | 42.5 | 43.7 | 40.7 | 41.8 |
| Trinidad and Tobago | 40.2 | 46.3 | 50.9 | 58.8 | 61.6 |
| Tunisia | 46.6 | 50.8 | 55.4 | 61.9 | 69.9 |
| Turkey | 31.3 | 28.6 | 27.5 | 28.3 | 28.3 |
| Turkmenistan | 20.0 | 16.8 | 21.8 | 24.1 | - |
| USA | 104 | 104 | 105 | 107 | 106 |
| Uganda | 27.7 | 30.8 | 33.5 | 37.2 | - |
| Ukraine | 39.9 | 69.4 | 79.1 | 80.9 | 71.8 |
| United Arab Emirates | 15.7 | 15.5 | 18.7 | 20.7 | - |
| United Kingdom | 85.6 | 87.4 | 88.2 | 88.2 | 87.7 |
| Uruguay | 57.5 | 58.6 | 58.9 | 63.6 | 64.5 |
| Uzbekistan | 7.5 | 8.8 | 9.7 | 11.2 | - |
| Venezuela | 31.3 | 28.5 | 74.7 | - | - |
| Vietnam | 51.8 | 55.0 | 57.0 | 59.8 | - |
| Yemen | 48.2 | 51.6 | 70.9 | - | - |
| Zambia | 27.1 | 36.1 | 62.3 | 60.5 | - |
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Public Debt Economic News
India: Pre-election budget threatens fiscal sustainability
February 13, 2019
On 1 February the interim budget for fiscal year 2019, which will start in April and run through to March 2020, was unveiled by the government.
Italy: Markets rally as Italy and the EU sign budget truce, but structural weaknesses remain abound
December 20, 2018
The European Commission decided not to launch an excessive deficit procedure against Italy, following an agreement reached with the country’s government over the budget on 19 December.
Saudi Arabia: Government unveils an expansionary budget for 2019 despite the recent fall in oil prices
December 18, 2018
On 18 December Saudi Arabia presented its budget for 2019, which is the Kingdom’s largest ever in a bid to spur faltering economic growth.
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