Maldives Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Maldives's government debt to gdp was 131.82% in 2025, ranked 7th globally. This represents a 1.1% decrease from 2024. Data from IMF WEO, covering 1997–2025.
Overview
Maldives's government debt to gdp stood at 131.82% in 2025, a decline of +1.50% from 2024. The IMF projects 131.82% by 2025. Maldives ranked 7th globally.
Maldives’ government debt-to‑GDP ratio has risen sharply from an early‑year level of 38.11 in 1997 to 131.82 in 2025, placing the archipelago at the seventh‑highest position worldwide. The ratio peaked at 155.66 in 2020, a surge driven by pandemic‑related fiscal stimulus and external borrowing, before retreating modestly to the current level. The lowest point since records began occurred in 2004 at 34.67, reflecting a period of limited public‑sector borrowing and strong economic growth. Compared with peers, Maldives now exceeds the United States’ 125.05 and Italy’s 136.84, while remaining below Bahrain’s 142.49, indicating that its debt burden is approaching that of advanced economies despite its small size. Over the 29‑year coverage span, the upward trajectory suggests that without a sustained improvement in fiscal balances or a significant boost in revenue, the debt‑to‑GDP ratio is likely to remain elevated, though gradual consolidation could moderate the pace of increase.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 146.55% | - | - |
| 2029* IMF | 145.76% | - | - |
| 2028* IMF | 143.72% | - | - |
| 2027* IMF | 140.32% | - | - |
| 2026* IMF | 135.89% | - | - |
| 2025* IMF | 131.82% | - | - |
| 2025 | 131.82% | −1.50% | #7 |
| 2024 | 133.32% | +10.93% | #181 |
| 2023 | 122.39% | +10.77% | #179 |
| 2022 | 111.62% | −11.79% | #174 |
| 2021 | 123.42% | −32.25% | #178 |
| 2020 | 155.67% | +78.46% | #185 |
| 2019 | 77.20% | +6.55% | #148 |
| 2018 | 70.65% | +6.90% | #144 |
| 2017 | 63.75% | +1.87% | #135 |
| 2016 | 61.88% | +7.04% | #131 |
| 2015 | 54.84% | −0.22% | #122 |
| 2014 | 55.07% | −0.88% | #130 |
| 2013 | 55.95% | −1.17% | #135 |
| 2012 | 57.12% | +5.26% | #140 |
| 2011 | 51.86% | −0.88% | #134 |
Detected Pattern
Analysis
Maldives matched the Fiscal Dominance Trap pattern in 2011. 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
Maldives's government debt to gdp was 131.82% in 2025. Ranked 7th globally. This represents a 1.1% decrease from the previous year.
Maldives's government debt to gdp peaked at 155.67% in 2020.
The lowest government debt to gdp in Maldives was 34.67% in 2004.
Maldives ranks 7th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Maldives's government debt to gdp is projected to reach 131.82% by 2025 based on IMF projection.
The government debt to gdp of Maldives in 2025 was 131.82%. This ranks 7th in the world.
Cite this page
@misc{historysaid_maldives_government-debt-to-gdp,
title = {Maldives Government Debt to GDP},
url = {https://historysaid.com/maldives/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}