Government gross debt in Australia

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 50.6% 2027: 50.7% 2028: 50.5% 2029: 50.2% 2030: 49.7% 2031: 49.1%

22.5 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	22.5
Jan 1998	23.7
Jan 1997	25.9
Jan 1996	29.3
Jan 1995	31.1
Jan 1994	31.7
Jan 1993	30.6
Jan 1992	27.6
Jan 1991	21.6
Jan 1990	16.4

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Australia's government debt is the total liabilities owed by the public sector to its creditors. It is expressed in absolute terms and, above all, as a share of GDP to assess sustainability. The figures come from the Australian Treasury and the Australian Bureau of Statistics (ABS).

How it's calculated

It is compiled by summing government liabilities (debt securities, loans and deposits), consolidated across the federal and state levels of government. The debt-to-GDP ratio relates that stock to the size of the economy.

Market implications

A high or rising debt level bears on the sustainability of public finances, funding costs and the room for fiscal policy. Australia starts from comparatively low debt, a factor that underpins its AAA credit rating and the strength of the Australian dollar.

Limitations

It is a low-frequency figure revised alongside the national accounts. The ratio to GDP depends on both the debt stock and nominal GDP, so it can move without any change in borrowing; it is also worth distinguishing federal government debt from that of the whole public sector.