Solomon Islands: Government debt

(measure: percent; Source: Ministry of Finance & Treasury of Solomon Islands)
* indicates monthly or quarterly data series

Solomon Islands: Government debt as percent of GDP

: For that indicator, Ministry of Finance & Treasury of Solomon Islands provides data for the Solomon Islands from 2005 to 2019. The average value for the Solomon Islands during that period was 22.07 percent with a minimum of 8 percent in 2016 and a maximum of 53 percent in 2005. The latest value from 2019 is 10 percent. For comparison, the world average in 2019 based on 24 countries is 57.45 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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The government debt in the Solomon Islands 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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