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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India: 2021–2022 budget seeks to support medium-term growth, while reining in the deficit
February 1, 2021
On 1 February, the government unveiled its union budget for fiscal year 2021, which runs from April 2021 to March 2022.
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Saudi Arabia: Government announces smaller 2021 budget in bid to rein in deficit
January 11, 2021
In mid-December, the government announced the 2021 budget.
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Angola: Parliament approves 2021 draft budget aimed at narrowing fiscal deficit, but risk of default remains
December 15, 2020
In late November, parliament approved the government’s 2021 draft budget, which passed a final vote14 December.
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