Hong Kong Government gross debt in Hong Kong

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 14.1% 2027: 15.6% 2028: 17.5% 2029: 18.4% 2030: 19.2% 2031: 19.8%
19.8 (2031) ANUAL · % of GDP · Annual · CSV
Period% of GDP
Jan 2031 19.8
Jan 2030 19.2
Jan 2029 18.4
Jan 2028 17.5
Jan 2027 15.6
Jan 2026 14.1
Jan 2025 11.9
Jan 2024 9.2
Jan 2023 6.3
Jan 2022 4.3
Jan 2021 1.9
Jan 2020 1.0
Jan 2019 0.3
Jan 2018 0.1
Jan 2017 0.1
Jan 2016 0.1
Jan 2015 0.1
Jan 2014 0.1
Jan 2013 0.5
Jan 2012 0.5
Jan 2011 0.6
Jan 2010 0.6
Jan 2009 0.7
Jan 2008 1.0
Jan 2007 1.2
Jan 2006 1.4
Jan 2005 1.7
Jan 2004 1.9

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
Government gross debt is the total stock of liabilities owed by Hong Kong's general government to its creditors. It is expressed in absolute terms and, above all, as a percentage of GDP to assess sustainability.
How it's calculated
It totals general government liabilities, using Hong Kong official data and IMF estimates. The debt-to-GDP ratio sets that stock against the economy; much of the issuance reflects bond-market development rather than financing needs.
Market implications
Hong Kong runs very low debt and large fiscal reserves, reinforcing its solvency and underpinning the linked exchange rate (currency board) of the Hong Kong dollar to the US dollar; a very low ratio signals ample fiscal space.
Limitations
It is a low-frequency figure revised with the national accounts. Given Hong Kong's reserve position, gross debt gives an incomplete picture: net debt, deeply negative, better reflects the strength of the public finances.