Panama Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Panama's government debt to gdp was 59.60% in 2025, ranked 76th globally. This represents a 3.9% increase from 2024. Data from IMF WEO, covering 1994–2025.
Overview
Panama's government debt to gdp stood at 59.60% in 2025, a rise of +2.22% from 2024. The IMF projects 59.60% by 2025. Panama ranked 76th globally.
Panama's government debt to GDP ratio has exhibited a significant fluctuation over the past three decades, peaking at 78.34 in 1994 and troughing at 33.56 in 2017. The ratio has been steadily increasing since its trough, currently standing at 59.60 as of 2025, ranking the country 76th globally. A comparison with peer countries reveals a relatively stable position, with Costa Rica and the Slovak Republic sharing similar ratios. The substantial decline in the debt-to-GDP ratio from the 1990s to the 2010s was largely driven by prudent fiscal policies and a stable economic environment. However, the recent uptick in the ratio may be attributed to a combination of factors, including the COVID-19 pandemic's impact on the global economy and Panama's efforts to mitigate its fiscal deficit. Should the country continue to adopt sound fiscal management practices and maintain a stable economic growth trajectory, it is likely that the debt-to-GDP ratio will gradually decrease in the coming years.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 58.10% | - | - |
| 2029* IMF | 59.35% | - | - |
| 2028* IMF | 60.16% | - | - |
| 2027* IMF | 60.47% | - | - |
| 2026* IMF | 60.27% | - | - |
| 2025* IMF | 59.60% | - | - |
| 2025 | 59.60% | +2.22% | #76 |
| 2024 | 57.38% | +6.15% | #100 |
| 2023 | 51.23% | −1.50% | #86 |
| 2022 | 52.73% | −1.68% | #91 |
| 2021 | 54.41% | −7.11% | #89 |
| 2020 | 61.52% | +21.69% | #102 |
| 2019 | 39.83% | +4.25% | #60 |
| 2018 | 35.58% | +2.02% | #49 |
| 2017 | 33.56% | −0.05% | #44 |
| 2016 | 33.61% | −0.63% | #50 |
| 2015 | 34.24% | −0.48% | #59 |
| 2014 | 34.72% | +1.00% | #75 |
| 2013 | 33.73% | −0.31% | #77 |
| 2012 | 34.03% | −1.60% | #84 |
| 2011 | 35.63% | −2.46% | #89 |
Detected Pattern
Analysis
Panama matched the Export Boom Cycle pattern in 1994. 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
Panama's government debt to gdp was 59.60% in 2025. Ranked 76th globally. This represents a 3.9% increase from the previous year.
Panama's government debt to gdp peaked at 78.34% in 1994.
The lowest government debt to gdp in Panama was 33.56% in 2017.
Panama ranks 76th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Panama's government debt to gdp is projected to reach 59.60% by 2025 based on IMF projection.
The government debt to gdp of Panama in 2025 was 59.60%. This ranks 76th in the world.
Cite this page
@misc{historysaid_panama_government-debt-to-gdp,
title = {Panama Government Debt to GDP},
url = {https://historysaid.com/panama/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}