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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Albania | 74.0 | 73.2 | 70.2 | 68.0 | 66.6 |
| Algeria | 8.7 | 20.5 | 27.1 | 38.1 | 46.3 |
| Angola | 57.1 | 75.7 | 69.3 | 89.0 | - |
| Argentina | 52.6 | 53.1 | 56.6 | 86.0 | 89.4 |
| Armenia | 44.1 | 51.9 | 53.7 | 51.3 | 50.0 |
| Australia | 37.7 | 40.5 | 41.1 | 41.5 | 45.0 |
| Austria | 84.9 | 82.9 | 78.3 | 74.0 | 70.4 |
| Azerbaijan | 35.0 | 50.7 | 53.2 | 48.4 | - |
| Bahrain | 60.4 | 71.8 | 79.5 | 80.7 | 83.0 |
| Bangladesh | 33.7 | 33.3 | 33.4 | 34.6 | 35.7 |
| Belarus | 46.9 | 47.2 | 47.2 | 45.4 | 44.8 |
| Belgium | 105 | 105 | 102 | 99.8 | 98.6 |
| Belize | 82.7 | 88.9 | 96.4 | 96.6 | 99.7 |
| Bolivia | 40.9 | 46.5 | 51.3 | 53.9 | 58.0 |
| Bosnia and Herzegovina | 45.5 | 44.1 | 39.2 | 34.3 | - |
| Botswana | 23.2 | 21.3 | 18.1 | 18.9 | 18.7 |
| Brazil | 65.5 | 69.8 | 73.7 | 76.5 | 75.8 |
| Brunei | 3.0 | 3.0 | 2.8 | 2.6 | - |
| Bulgaria | 26.0 | 29.3 | 25.3 | 22.3 | 20.4 |
| Cambodia | 31.2 | 29.1 | 30.0 | 28.6 | - |
| Canada | 91.2 | 91.7 | 90.5 | 89.7 | - |
| Chile | 17.3 | 21.0 | 23.6 | 25.6 | 27.9 |
| China | 15.5 | 16.1 | 16.2 | 16.3 | 17.0 |
| Colombia | 42.9 | 43.8 | 44.9 | 48.2 | 47.2 |
| Costa Rica | 41.0 | 45.1 | 48.4 | 53.2 | 58.5 |
| Croatia | 84.3 | 80.8 | 77.8 | 74.7 | 73.2 |
| Cyprus | 108 | 103 | 93.9 | 101 | 95.5 |
| Czech Republic | 40.0 | 36.8 | 34.7 | 32.6 | 30.8 |
| DR Congo | - | - | - | - | - |
| Denmark | 39.8 | 37.2 | 35.8 | 33.9 | 33.2 |
| Dominican Republic | 44.7 | 46.6 | 48.9 | 50.4 | 53.6 |
| Ecuador | 33.0 | 38.2 | 44.6 | 46.0 | 50.2 |
| Egypt | 93.1 | 103 | 108 | 97.3 | 90.2 |
| El Salvador | 70.8 | 72.6 | 73.6 | 72.7 | 73.3 |
| Estonia | 10.0 | 10.2 | 9.3 | 8.4 | 8.4 |
| Ethiopia | 55.8 | 57.7 | 61.1 | 57.6 | - |
| Eurozone | 90.9 | 90.0 | 87.8 | 85.8 | 84.1 |
| Finland | 63.6 | 63.2 | 61.3 | 59.6 | 59.4 |
| France | 95.6 | 98.0 | 98.3 | 98.1 | 98.1 |
| Georgia | 36.8 | 40.3 | 39.9 | 39.9 | 41.2 |
| Germany | 72.1 | 69.2 | 65.3 | 61.9 | 59.8 |
| Ghana | 55.1 | 57.3 | 57.2 | 59.1 | - |
| Greece | 176 | 179 | 176 | 181 | 177 |
| Guatemala | 24.9 | 25.2 | 25.2 | 26.2 | 26.9 |
| Haiti | 30.3 | 33.7 | 31.0 | 33.3 | - |
| Hong Kong | 0.1 | 0.1 | 0.1 | 0.1 | 0.3 |
| Hungary | 76.2 | 75.5 | 72.9 | 70.2 | 66.3 |
| Iceland | 65.0 | 51.2 | 43.2 | 37.4 | - |
| India | 68.8 | 68.7 | 69.4 | 69.4 | 71.9 |
| Indonesia | 27.0 | 28.0 | 29.4 | 30.1 | 30.4 |
| Iran | 38.4 | 47.5 | 39.5 | 31.8 | - |
| Iraq | 56.9 | 64.3 | 58.9 | 49.3 | - |
| Ireland | 76.7 | 73.8 | 67.7 | 63.5 | 58.8 |
| Israel | 63.8 | 61.8 | 59.9 | 60.4 | 59.6 |
| Italy | 135 | 135 | 134 | 135 | 135 |
| Jamaica | 122 | 114 | 101 | 94.4 | - |
| Japan | 231 | 236 | 234 | 236 | 237 |
| Jordan | 92.4 | 93.8 | 94.3 | 94.4 | 96.6 |
| Kazakhstan | 22.8 | 28.2 | 26.3 | 26.0 | 25.2 |
| Kenya | 50.2 | 54.5 | 56.0 | 59.3 | 62.1 |
| Korea | 37.3 | 37.6 | 36.7 | 37.9 | 40.7 |
| Kosovo | 13.1 | 14.4 | 16.2 | 16.9 | 17.5 |
| Kyrgyzstan | 67.1 | 59.1 | 58.9 | 54.8 | 54.1 |
| Laos | 53.1 | 54.2 | 55.8 | 57.4 | 60.6 |
| Latvia | 37.3 | 40.9 | 39.3 | 37.2 | 36.9 |
| Lebanon | 141 | 146 | 150 | 155 | 171 |
| Lithuania | 42.6 | 39.7 | 39.1 | 33.8 | 36.3 |
| Luxembourg | 22.0 | 20.1 | 22.3 | 21.0 | 22.1 |
| Malaysia | 53.6 | 51.9 | 50.1 | 51.2 | 52.5 |
| Malta | 58.0 | 55.5 | 50.3 | 45.6 | 43.1 |
| Mexico | 45.4 | 49.4 | 46.9 | 46.8 | 47.1 |
| Moldova | 37.8 | 35.6 | 31.8 | 29.7 | 27.3 |
| Mongolia | 62.1 | 87.6 | 84.6 | 73.3 | - |
| Montenegro | 66.2 | 64.4 | 64.2 | 70.1 | 77.2 |
| Morocco | 63.7 | 64.9 | 65.1 | 65.2 | 66.2 |
| Mozambique | 94.2 | 130 | 101 | 99.8 | - |
| Myanmar | 35.8 | 37.8 | 38.3 | 36.3 | 38.2 |
| Netherlands | 64.6 | 61.9 | 56.9 | 52.4 | 48.6 |
| New Zealand | 35.1 | 33.7 | 31.8 | 30.4 | 28.1 |
| Nigeria | 20.3 | 23.4 | 25.3 | 27.2 | - |
| North Macedonia | 38.1 | 39.9 | 39.4 | 40.6 | 40.2 |
| Norway | 33.4 | 37.2 | 37.8 | 39.4 | 40.6 |
| Oman | 15.5 | 32.7 | 46.4 | 53.5 | 62.6 |
| Pakistan | 61.8 | 65.5 | 65.1 | 69.9 | 83.7 |
| Panama | 37.4 | 37.3 | 37.6 | 39.4 | 46.4 |
| Paraguay | 15.1 | 17.3 | 18.2 | 19.4 | 21.3 |
| Peru | 23.3 | 23.9 | 24.9 | 25.8 | 26.8 |
| Philippines | 42.7 | 40.2 | 40.2 | 39.9 | 39.6 |
| Poland | 51.3 | 54.3 | 50.6 | 48.8 | 46.0 |
| Portugal | 131 | 132 | 126 | 122 | 118 |
| Puerto Rico | 95.1 | 91.8 | 92.9 | - | - |
| Qatar | 35.5 | 46.7 | 49.8 | 44.6 | 52.3 |
| Romania | 37.8 | 37.3 | 35.1 | 34.7 | 35.2 |
| Russia | 13.5 | 13.2 | 14.6 | 14.9 | 15.3 |
| Saudi Arabia | 5.8 | 13.1 | 17.2 | 19.0 | 22.8 |
| Serbia | 69.5 | 67.6 | 59.3 | 53.7 | 52.0 |
| Singapore | 99.5 | 105 | 106 | 109 | 126 |
| Slovakia | 51.9 | 52.0 | 51.3 | 49.4 | 48.0 |
| Slovenia | 82.6 | 78.7 | 74.1 | 70.4 | 66.1 |
| South Africa | 49.3 | 51.5 | 53.0 | 56.7 | 62.2 |
| Spain | 99.3 | 99.2 | 98.6 | 97.6 | 95.5 |
| Sri Lanka | 77.7 | 79.0 | 77.9 | 83.7 | 86.8 |
| Sweden | 43.9 | 42.2 | 40.8 | 38.8 | 35.1 |
| Switzerland | 30.0 | 28.9 | 29.3 | - | - |
| Taiwan | 36.6 | 36.2 | 35.5 | 35.1 | - |
| Tajikistan | 34.7 | 42.1 | 50.4 | 47.9 | 44.6 |
| Tanzania | 37.1 | 37.0 | 37.7 | 38.6 | - |
| Thailand | 43.7 | 41.0 | 41.1 | 41.8 | 41.2 |
| Trinidad and Tobago | 53.9 | 58.3 | 61.8 | 60.1 | 63.2 |
| Tunisia | 55.4 | 62.4 | 70.2 | 77.9 | 72.2 |
| Turkey | 27.5 | 28.2 | 28.2 | 30.4 | 33.1 |
| Turkmenistan | 21.8 | 24.1 | 28.8 | 29.1 | - |
| USA | 104 | 107 | 105 | 107 | 108 |
| Uganda | 34.3 | 37.1 | 39.7 | 41.4 | - |
| Ukraine | 79.1 | 80.9 | 71.8 | 60.9 | 50.3 |
| United Arab Emirates | 18.7 | 20.2 | 20.0 | 19.1 | - |
| United Kingdom | 86.9 | 86.8 | 86.2 | 85.7 | 85.4 |
| Uruguay | 62.9 | 61.4 | 60.7 | 63.5 | 66.3 |
| Uzbekistan | 7.1 | 8.6 | 20.2 | 20.4 | 29.3 |
| Venezuela | 74.7 | 92.3 | 120 | - | - |
| Vietnam | 61.0 | 63.7 | 61.4 | 58.4 | - |
| Yemen | 65.5 | 79.6 | 84.3 | 64.8 | - |
| Zambia | 62.3 | 60.7 | 61.9 | 78.1 | - |
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Public Debt Economic News
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Italy: Parliament approves growth-enhancing Covid-19 recovery package; raises deficit projections
April 30, 2021
At the end of April, Parliament approved Prime Minister Draghi’s plan for Italy’s post-pandemic recovery.
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Canada: Minister of finance presents loose budget for fiscal year 2021–2022 in April
April 19, 2021
On 19 April, Deputy Prime Minister and Minister of Finance Chrystia Freeland delivered the government’s budget for FY 2021–2022, which began on 1 April.
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Italy: Draghi government unveils fresh stimulus package, while hinting at more to come
March 28, 2021
On 19 March, the recently sworn-in governing coalition approved a EUR 32 billion support package aiming to revive the Italian economy from the blow dealt by the pandemic and associated restrictions, which led to a record contraction of 8.9% in 2020.
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