Share the statistic on social media channels or embed the statistic in your website using "Embed Code", where available.
Share chart
Embed chart Embed copied!Cite this statistic and select one of the following formats: APA, Chicago, Harvard, MLA & Bluebook
The Central Government Debt (Percent of GDP) by the International Monetary Fund (IMF) refers to the total debt owed by a country's central government as a percentage of its Gross Domestic Product (GDP).
Key Takeaways
Saudi Arabia experienced significant shifts in its central government debt as it navigated oil price volatility and fiscal policy challenges. Debt rose sharply from 16.09% in 1990 to over 100% by 1999, driven by deficits during the Gulf War and declining oil revenues. However, a turnaround began in the 2000s, supported by rising oil prices and fiscal reforms. By 2008, debt had dropped to 12.06%, underscoring prudent fiscal management and oil revenue windfalls.
The 2015 oil price crash reignited borrowing, with debt rising to 21.55% by 2019. The COVID-19 pandemic further strained finances, pushing the debt-to-GDP ratio to 31.04% in 2020. Despite fiscal reforms and economic diversification under Vision 2030, debt only partially eased to 22.57% in 2022, reflecting ongoing efforts to balance growth and fiscal stability.
Discover additional trends and data on Saudi Arabia’s annual GDP figures, Saudi Arabia’s net lending/borrowing ratio as a percentage of GDP, Saudi Arabia’s goods trade balance.
Connect with our expert team for immediate assistance or comprehensive market analysis. We are always ready to support your business needs.
