Saudi Arabia: Government debt

* indicates monthly or quarterly data series
 Saudi Arabia

Government debt as percent of GDP

 Latest value 23.93
 Year 2022
 Measure percent
 Data availability 1991 - 2022
 Average 42.17
 Min - Max 1.54 - 102.99
 Source International Monetary Fund (IMF)
For that indicator, we provide data for Saudi Arabia from 1991 to 2022. The average value for Saudi Arabia during that period was 42.17 percent with a minimum of 1.54 percent in 2014 and a maximum of 102.99 percent in 1999. The latest value from 2022 is 23.93 percent. For comparison, the world average in 2022 based on 161 countries is 61.64 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series

Recent values chart
Saudi Arabia - Government debt - Recent values chart

Historical chart
Saudi Arabia - Government debt - historical chart - 1991-2022

The government debt in Saudi Arabia 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.

 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 20.83 2022 percent
 Government spending, in dollars 230.91 2022 billion U.S. dollars
 Fiscal balance, percent of GDP 2.49 2022 percent
 Government debt 23.93 2022 percent
 Government expenditure 223.58 Q3/2023 billion
 Tax revenue 8.24 2020 percent
 Commercial tax rate 15.70 2019 percent
 Tax preparation time 152 2019 hours
 Number of taxes 4 2019 taxes
 Taxes on goods and services 20.89 2020 percent
 Taxes on international trade 2.27 2020 percent
 Income and profits taxes 2.32 2020 percent
 Foreign aid 0.29 2009 million U.S. dollars
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