Switzerland's Central Government Debt (% of GDP), 1990-2022

Switzerland's central government debt as a percentage of GDP showed a steady increase during the early 1990s, rising from 10.98% in 1990 to a peak of 24.33% in 1998. This growth aligned with efforts to stabilize the economy amid global financial uncertainties and increasing public spending. Notably, fiscal reforms introduced in the late 1990s helped curb this trajectory, leading to a gradual decline to 22.16% by 2000.

From 2000 onward, Switzerland's debt levels remained relatively stable until the mid-2000s, after which a consistent decline occurred. This decrease was particularly evident between 2006 and 2014, when debt dropped from 21.76% to 15.4%, driven by robust economic growth and disciplined fiscal policies. The COVID-19 pandemic in 2020 caused a temporary uptick in debt to 13.89% as the government implemented stimulus measures. Despite this, debt levels remained among the lowest globally, reflecting Switzerland's strong economic management.