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 | 72.7 | 72.4 | 70.1 | 67.8 | - |
| Algeria | 8.7 | 20.5 | 27.3 | 38.3 | - |
| Angola | 57.1 | 75.7 | 69.3 | 89.0 | - |
| Argentina | 52.6 | 53.1 | 56.6 | 86.0 | - |
| Armenia | 48.7 | 56.7 | 58.8 | 55.6 | - |
| Australia | 37.7 | 40.5 | 41.1 | 41.4 | - |
| Austria | 84.9 | 82.9 | 78.3 | 74.0 | - |
| Azerbaijan | 35.0 | 50.7 | 53.2 | 48.4 | - |
| Bahrain | 60.3 | 71.8 | 79.5 | 80.9 | - |
| Bangladesh | 33.7 | 33.3 | 32.6 | 34.0 | - |
| Belarus | 46.9 | 47.2 | 47.2 | 45.4 | 44.8 |
| Belgium | 105 | 105 | 102 | 100 | - |
| Belize | 82.7 | 88.9 | 96.4 | 96.3 | - |
| Bolivia | 40.9 | 46.5 | 51.3 | 53.9 | - |
| Bosnia and Herzegovina | 45.5 | 44.1 | 39.2 | 34.3 | - |
| Botswana | 17.2 | 15.6 | 13.4 | 12.1 | - |
| 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 | - |
| Cambodia | 31.2 | 29.1 | 30.0 | 28.6 | - |
| Canada | 91.3 | 91.8 | 90.1 | 89.9 | - |
| Chile | 17.3 | 21.0 | 23.5 | 25.6 | - |
| China | 15.5 | 16.1 | 16.2 | 16.3 | - |
| Colombia | 42.9 | 43.8 | 44.9 | 48.2 | - |
| Costa Rica | 41.0 | 45.1 | 48.4 | 53.2 | 58.5 |
| Croatia | 84.4 | 81.0 | 78.0 | 74.8 | - |
| Cyprus | 108 | 103 | 93.9 | 101 | - |
| Czech Republic | 40.0 | 36.8 | 34.7 | 32.6 | - |
| DR Congo | - | - | - | - | - |
| Denmark | 39.8 | 37.2 | 35.5 | 34.2 | - |
| Dominican Republic | 44.7 | 46.6 | 48.9 | 50.5 | 52.4 |
| Ecuador | 33.0 | 38.2 | 44.6 | 46.0 | - |
| Egypt | 93.1 | 103 | 108 | 97.3 | 90.2 |
| El Salvador | 70.8 | 72.7 | 73.7 | 72.8 | - |
| Estonia | 10.0 | 10.2 | 9.3 | 8.4 | - |
| Ethiopia | 55.8 | 58.6 | 61.0 | 59.1 | - |
| Eurozone | 90.8 | 90.0 | 87.8 | 85.9 | - |
| Finland | 63.0 | 62.6 | 60.9 | 59.0 | - |
| France | 95.6 | 98.0 | 98.4 | 98.4 | - |
| Georgia | 41.4 | 44.4 | 45.1 | 44.9 | - |
| Germany | 72.1 | 69.2 | 65.3 | 61.9 | - |
| Ghana | 54.8 | 57.1 | 57.3 | 59.3 | - |
| Greece | 176 | 179 | 176 | 181 | - |
| Guatemala | 24.2 | 24.3 | 23.9 | 24.2 | - |
| Haiti | 30.3 | 33.7 | 31.0 | 33.3 | - |
| Hong Kong | 0.1 | 0.1 | 0.1 | 0.1 | - |
| Hungary | 76.1 | 75.5 | 72.9 | 70.2 | - |
| Iceland | 65.0 | 51.2 | 43.1 | 37.6 | - |
| India | 68.8 | 67.7 | 67.8 | 68.1 | - |
| Indonesia | 27.0 | 28.0 | 29.4 | 30.1 | - |
| Iran | 38.4 | 47.5 | 39.5 | 32.2 | - |
| Iraq | 56.9 | 64.3 | 58.9 | 49.3 | - |
| Ireland | 76.7 | 73.9 | 67.8 | 63.6 | - |
| Israel | 63.8 | 61.8 | 59.9 | 60.4 | - |
| Italy | 135 | 135 | 134 | 135 | - |
| Jamaica | 122 | 114 | 101 | 94.4 | - |
| Japan | 232 | 236 | 235 | - | - |
| Jordan | 92.4 | 93.8 | 94.3 | 94.4 | - |
| Kazakhstan | 22.1 | 24.4 | 25.5 | 24.7 | 23.0 |
| Kenya | 50.2 | 54.5 | 56.1 | 59.2 | - |
| Korea | 37.3 | 37.6 | 37.7 | - | - |
| Kosovo | 13.1 | 14.4 | 16.2 | 17.1 | - |
| Kyrgyzstan | 67.1 | 59.1 | 58.8 | 56.0 | - |
| Laos | 53.1 | 54.2 | 55.8 | 57.2 | - |
| Latvia | 36.7 | 40.2 | 38.6 | 36.4 | - |
| Lebanon | 141 | 146 | 149 | 151 | - |
| Lithuania | 42.7 | 39.9 | 39.3 | 34.1 | - |
| Luxembourg | 22.0 | 20.1 | 22.3 | 21.0 | - |
| Malaysia | 53.6 | 51.9 | 50.1 | 51.2 | - |
| Malta | 57.8 | 55.5 | 50.3 | 45.8 | - |
| Mexico | 45.4 | 49.4 | 46.9 | 46.9 | 47.0 |
| Moldova | 37.8 | 35.6 | 31.8 | 29.7 | - |
| Mongolia | 62.1 | 87.6 | 84.6 | 73.3 | - |
| Montenegro | 66.2 | 64.4 | 64.2 | 70.1 | - |
| Morocco | 63.7 | 64.9 | 65.1 | 64.9 | - |
| Mozambique | 94.2 | 130 | 101 | 99.8 | - |
| Myanmar | 37.1 | 39.8 | 35.2 | 38.2 | - |
| Netherlands | 64.6 | 61.9 | 56.9 | 52.4 | - |
| New Zealand | 35.1 | 33.7 | 31.8 | 30.4 | 28.1 |
| Nigeria | 20.3 | 23.4 | 25.3 | 27.3 | - |
| North Macedonia | 38.1 | 39.9 | 39.4 | 40.6 | - |
| Norway | 33.4 | 37.2 | 37.8 | 39.3 | - |
| Oman | 15.5 | 32.7 | 46.4 | 53.4 | - |
| Pakistan | 61.8 | 65.5 | 65.1 | 69.9 | - |
| Panama | 37.4 | 37.3 | 37.6 | 39.4 | 46.4 |
| Paraguay | 15.1 | 17.3 | 18.2 | 20.2 | - |
| Peru | 23.3 | 23.9 | 24.9 | 25.7 | - |
| Philippines | 44.7 | 42.1 | 42.1 | 41.8 | 41.5 |
| Poland | 51.3 | 54.2 | 50.6 | 48.9 | - |
| Portugal | 131 | 132 | 126 | 122 | - |
| Puerto Rico | 95.1 | 91.8 | 91.7 | - | - |
| Qatar | 35.5 | 46.7 | 49.8 | 48.6 | - |
| Romania | 37.8 | 37.3 | 35.1 | 35.0 | - |
| Russia | 13.2 | 12.9 | 12.6 | 12.1 | - |
| Saudi Arabia | 5.8 | 13.1 | 17.2 | 19.0 | - |
| Serbia | 69.5 | 67.6 | 59.3 | 53.7 | - |
| Singapore | 99.5 | 105 | 106 | 109 | 126 |
| Slovakia | 51.9 | 52.0 | 51.3 | 49.4 | - |
| Slovenia | 82.6 | 78.7 | 74.1 | 70.4 | - |
| South Africa | 49.3 | 51.5 | 53.0 | 56.7 | - |
| Spain | 99.3 | 99.2 | 98.6 | 97.6 | - |
| Sri Lanka | 77.7 | 78.3 | 76.9 | 82.9 | - |
| Sweden | 43.9 | 42.3 | 40.7 | 38.8 | - |
| 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 | - |
| Tanzania | 35.9 | 36.4 | 36.6 | 37.3 | - |
| Thailand | 43.7 | 40.6 | 41.2 | 41.8 | 41.2 |
| Trinidad and Tobago | 48.0 | 59.1 | 62.9 | 61.6 | - |
| Tunisia | 55.4 | 62.4 | 70.2 | 76.7 | - |
| Turkey | 27.6 | 28.3 | 28.2 | 30.1 | - |
| 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 | - |
| United Arab Emirates | 18.7 | 20.2 | 20.0 | 19.1 | - |
| United Kingdom | 86.9 | 86.8 | 86.2 | 85.9 | - |
| Uruguay | 62.9 | 61.4 | 60.7 | 63.5 | - |
| Uzbekistan | 7.1 | 8.6 | 20.2 | 20.6 | - |
| Venezuela | 74.7 | 92.3 | 120 | - | - |
| Vietnam | 57.1 | 59.7 | 58.2 | 55.6 | - |
| 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
-
Kenya: Government unveils FY2020 budget against Covid-19 backdrop; sets a trajectory for consolidation
June 19, 2020
On 11 June, the government presented a KES 2.79 trillion (around USD 26 billion) budget for fiscal year 2020–2021, which will start on 1 July and run through to 30 June 2021.
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Italy: Government approves additional budget stimulus to shore up the economy amid strained public finances
May 30, 2020
On 13 May, Italy’s government unveiled a EUR 55 billion stimulus package, largely focused on granting financial support to businesses and preventing job losses in an effort to cushion the economy from the impact of the coronavirus outbreak and associated lockdown measures.
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New Zealand: Government approves massive budget stimulus to buttress economy ahead of September elections
May 21, 2020
On 14 May, the government unveiled an NZD 50 billion (USD 30 billion) stimulus package, largely focused on supporting employment in an effort to kickstart the economy following the impact of the coronavirus outbreak and consequent lockdown.
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