Kuwait Debt to GDP Ratio
Kuwait's government debt-to-GDP ratio decreased to 3% in 2024 from 3.2% in 2023. This low ratio is supported by sovereign wealth funds that offset fiscal deficits. Global oil prices and OPEC+ quotas influence Kuwait's revenue and GDP, affecting the debt-to-GDP metric. Despite an expected GDP contraction in 2024, Kuwait's strong asset base maintains a low debt burden. Kuwait's record low government debt to gdp was 2.9% in 2022 and record high was 19.6% in 2017.
Yearly Historical Data (2015-2024)
(in %)Kuwait Debt to GDP Ratio : Definition
Kuwait government debt to GDP represents total public debt as a percentage of the nation's Gross Domestic Product. It is calculated by dividing the sum of all outstanding government liabilities (domestic and external, often converted to KWD or USD) by the total value of goods and services produced (GDP). Kuwait's debt-to-GDP ratio is generally low, reflecting its oil-based economy and significant sovereign wealth fund assets.