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Saudi Arabia Debt to GDP Ratio

Saudi Arabia's government debt-to-GDP ratio increased to 26.2% in 2024, up from 23% in 2023. This rise is attributed to a 2024 budget deficit of $30.8 billion, caused by increased government spending on Vision 2030 projects and infrastructure. Despite a slight increase in total revenues to $335.7 billion, lower oil revenues in late 2024 required additional borrowing. Saudi Arabia's record low government debt to GDP was 1.6% in 2014 and record high was 96.9% in 2002.

Yearly Historical Data (2001-2024)

(in %)
Year Debt to GDP Ratio
2024 26.2%
2023 23%
2022 23.8%
2021 30%
2020 32.5%
2019 22.8%
2018 19%
2017 17.2%
2016 13.1%
2015 5.8%
2014 1.6%
2013 2.1%
2012 3.1%
2011 5.4%
2010 8.4%
2009 14%
2008 12.1%
2007 17.1%
2006 25.8%
2005 37.4%
2004 65%
2003 82%
2002 96.9%
2001 93.7%
Saudi Arabia Debt to GDP Ratio : Definition
Saudi Arabia's government debt to GDP shows its debt relative to its economic output. It's calculated by dividing the total government debt by the Gross Domestic Product. A lower ratio often signals better fiscal health.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -0.5% 2.9% Dec'24
Repo Rate 4.75% 5% Sep'25
Private Credit (% GDP) 50.14% 54.38% 2017