Eswatini Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Eswatini's government debt to gdp was 42.84% in 2025, ranked 117th globally. This represents a 9.3% increase from 2024. Data from IMF WEO, covering 1993–2025.
Overview
Eswatini's government debt to gdp stood at 42.84% in 2025, a rise of +3.63% from 2024. The IMF projects 42.84% by 2025. Eswatini ranked 117th globally.
Eswatini’s government debt ratio has risen steadily since the early 1990s, moving from 14.97 % of GDP in 1993 to an all‑time high of 42.84 % in 2025, the peak recorded in the IMF World Economic Outlook. The trough of the series occurred in 2009, when the ratio fell to 10.61 %, reflecting the fiscal prudence of that period. Over the 33‑year span the debt‑to‑GDP metric has more than doubled, positioning Eswatini at 117th in the global ranking for 2025. Its current level is comparable to peers such as Chile (42.74 %) and Serbia (43.90 %), suggesting that the kingdom now faces a debt burden similar to middle‑income economies rather than its historically low‑debt profile. Continued fiscal consolidation, higher growth rates, or external financing conditions will be decisive in shaping whether the upward trajectory moderates or accelerates in the coming years.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 41.36% | - | - |
| 2029* IMF | 42.42% | - | - |
| 2028* IMF | 42.53% | - | - |
| 2027* IMF | 43.47% | - | - |
| 2026* IMF | 43.46% | - | - |
| 2025* IMF | 42.84% | - | - |
| 2025 | 42.84% | +3.63% | #117 |
| 2024 | 39.21% | −0.17% | #53 |
| 2023 | 39.37% | −0.16% | #50 |
| 2022 | 39.53% | +2.05% | #54 |
| 2021 | 37.48% | −0.34% | #36 |
| 2020 | 37.83% | +7.30% | #36 |
| 2019 | 30.52% | +4.07% | #35 |
| 2018 | 26.46% | +4.76% | #32 |
| 2017 | 21.70% | +1.60% | #20 |
| 2016 | 20.10% | +4.12% | #20 |
| 2015 | 15.98% | +1.93% | #18 |
| 2014 | 14.06% | −1.10% | #20 |
| 2013 | 15.15% | +0.34% | #23 |
| 2012 | 14.81% | +0.22% | #23 |
| 2011 | 14.59% | +0.35% | #21 |
Detected Pattern
Analysis
Eswatini matched the Export Boom Cycle pattern in 2012. Historically, 71% of countries showing this pattern (546 out of 768) saw government debt to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Eswatini's government debt to gdp was 42.84% in 2025. Ranked 117th globally. This represents a 9.3% increase from the previous year.
Eswatini's government debt to gdp peaked at 42.84% in 2025.
The lowest government debt to gdp in Eswatini was 10.61% in 2009.
Eswatini ranks 117th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Eswatini's government debt to gdp is projected to reach 42.84% by 2025 based on IMF projection.
The government debt to gdp of Eswatini in 2025 was 42.84%. This ranks 117th in the world.
Cite this page
@misc{historysaid_eswatini_government-debt-to-gdp,
title = {Eswatini Government Debt to GDP},
url = {https://historysaid.com/eswatini/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}