Azerbaijan Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Azerbaijan's government debt to gdp was 22.39% in 2025, ranked 166th globally. This represents a 3.3% increase from 2024. Data from IMF WEO, covering 1995–2025.
Overview
Azerbaijan's government debt to gdp stood at 22.39% in 2025, a rise of +0.72% from 2024. The IMF projects 22.39% by 2025. Azerbaijan ranked 166th globally.
Azerbaijan's government debt to GDP ratio has experienced significant fluctuations over the past 31 years, with the all-time peak reached in 2021 at 26.35%, and the all-time trough in 2008 at 3.22%. The country's debt-to-GDP ratio has increased steadily since 2008, driven by rising government spending and borrowing. As of 2025, Azerbaijan's debt to GDP ratio stands at 22.39%, ranking it 166th globally. In comparison, Russia, a peer country, had a debt-to-GDP ratio of 23.05% in 2025, indicating a relatively similar level of indebtedness. Azerbaijan's rising debt burden has been driven by increased government expenditure on infrastructure development and social programs. A sustained decline in global oil prices, which accounts for a significant portion of Azerbaijan's revenue, could exacerbate the country's fiscal challenges and alter the trajectory of its debt-to-GDP ratio.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 24.95% | - | - |
| 2029* IMF | 24.52% | - | - |
| 2028* IMF | 23.90% | - | - |
| 2027* IMF | 23.87% | - | - |
| 2026* IMF | 23.51% | - | - |
| 2025* IMF | 22.39% | - | - |
| 2025 | 22.39% | +0.72% | #166 |
| 2024 | 21.67% | −0.13% | #16 |
| 2023 | 21.81% | +4.48% | #17 |
| 2022 | 17.32% | −9.03% | #13 |
| 2021 | 26.35% | +5.02% | #24 |
| 2020 | 21.33% | +3.67% | #13 |
| 2019 | 17.66% | −1.03% | #11 |
| 2018 | 18.69% | −3.82% | #14 |
| 2017 | 22.51% | +1.90% | #22 |
| 2016 | 20.61% | +2.63% | #21 |
| 2015 | 17.98% | +9.45% | #20 |
| 2014 | 8.53% | +2.35% | #10 |
| 2013 | 6.18% | +0.35% | #8 |
| 2012 | 5.83% | +0.86% | #8 |
| 2011 | 4.97% | −0.01% | #6 |
Detected Pattern
Analysis
Azerbaijan matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw government debt to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Azerbaijan's government debt to gdp was 22.39% in 2025. Ranked 166th globally. This represents a 3.3% increase from the previous year.
Azerbaijan's government debt to gdp peaked at 26.35% in 2021.
The lowest government debt to gdp in Azerbaijan was 3.22% in 2008.
Azerbaijan ranks 166th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Azerbaijan's government debt to gdp is projected to reach 22.39% by 2025 based on IMF projection.
The government debt to gdp of Azerbaijan in 2025 was 22.39%. This ranks 166th in the world.
Cite this page
@misc{historysaid_azerbaijan_government-debt-to-gdp,
title = {Azerbaijan Government Debt to GDP},
url = {https://historysaid.com/azerbaijan/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}