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Ethiopia Debt to GDP Ratio

Ethiopia's government debt-to-GDP ratio dropped to 32% in 2024. This is the lowest level since 2015. The decline results from robust economic growth, estimated between 7.9% and 8.1% for the 2023/2024 fiscal year. Fiscal consolidation also reduced the deficit-to-GDP ratio to 2.9% in 2023. Ethiopia secured a $1.4 billion debt service standstill and is pursuing G20 Common Framework relief. Ethiopia's record low government debt to gdp was 31.3% in 2015 and record high was 53% in 2021.

Yearly Historical Data (2015-2024)

(in %)
Year Debt to GDP Ratio
2024 32%
2023 38%
2022 46%
2021 53%
2020 34.1%
2019 34.9%
2018 35.8%
2017 35.7%
2016 34.4%
2015 31.3%
Ethiopia Debt to GDP Ratio : Definition
Ethiopia's government debt to GDP ratio measures total government debt as a percentage of the nation's Gross Domestic Product. It is calculated by dividing the sum of all outstanding government debt, both domestic and external, by Ethiopia's total annual economic output (GDP). This ratio shows the government's liabilities relative to its economic capacity.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -3.4% -2.9% Dec'24
Interest Rate 15% 15% Aug'25