Eritrea: Government debt

* indicates monthly or quarterly data series

Government debt as percent of GDP

 Latest value 260.39
 Year 2019
 Measure percent
 Data availability 2000 - 2019
 Average 227.67
 Min - Max 171.57 - 290.39
 Source International Monetary Fund (IMF)
For that indicator, we provide data for Eritrea from 2000 to 2019. The average value for Eritrea during that period was 227.67 percent with a minimum of 171.57 percent in 2011 and a maximum of 290.39 percent in 2017. The latest value from 2019 is 260.39 percent. For comparison, the world average in 2019 based on 182 countries is 56.65 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Eritrea - Government debt - Recent values chart

Historical chart
Eritrea - Government debt - historical chart - 2000-2019

The government debt in Eritrea and other countries is calculated as the total amount owed by the national government to domestic and international lenders. It is reported as percent of GDP so that we can evaluate its magnitude relative to the size of the economy.

Government debt of about 60 percent or less of GDP is not considered a problem. The government can make payments without strain and even has some room to borrow more. If debt levels reach 80-90 percent that may have negative effects on the economy. Debt above 120 percent of GDP is quite detrimental.
Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

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 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 26.62 2011 percent
 Government spending, in dollars 0.55 2011 billion U.S. dollars
 Fiscal balance, percent of GDP -0.10 2023 percent
 Government debt 260.39 2019 percent
 Commercial tax rate 83.70 2019 percent
 Tax preparation time 216 2019 hours
 Number of taxes 30 2019 taxes
 Foreign aid 41.44 2021 million U.S. dollars
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