Australia vs Philippines: Government debt

Government debt in 2025: 51.9% of GDP in Australia and 59.1% of GDP in Philippines, by IMF estimates. In 2025 the value was higher in Philippines, by 7.2 percentage points, or 1.14 times that in Australia.

Watch it change on the map

% of GDP · IMF

AustraliaPhilippinesIMF projection (World Economic Outlook, October 2026)

What the numbers say

Philippines has been higher since 2021, when it overtook Australia.
The IMF projection (World Economic Outlook, October 2026) puts Australia at 54.3% of GDP and Philippines at 56.4% of GDP in 2031.

Every year

% of GDP · IMF

Year	Australia	Philippines
2025	51.9	59.1
2024	50.9	56.6
2023	49.4	56.5
2022	50	57.4
2021	55.4	57
2020	56.9	51.6
2019	46.5	37
2018	41.6	37.2
2017	41	38.1
2016	40.5	37.4
2015	37.6	39.7
2014	33.9	40.3
2013	30.3	43.9
2012	27.4	45.7
2011	24	45.4
2010	20.3	47.6
2009	16.6	49.8
2008	11.7	50
2007	9.6	50.2
2006	9.9	57.2
2005	10.8	64.7
2004	11.9	71.1
2003	13.2	71.4
2002	15	65.2
2001	17.1	59.5
2000	19.5	59.2
1999	22.5	54.2
1998	23.7	50.8
1997	25.9	56.9
1996	29.3	53.1
1995	31.1	60.9
1994	31.7	63.6
1993	30.6	73.9
1992	27.6	–
1991	21.6	–
1990	16.4	–
1989	17	–

IMF projection (World Economic Outlook, October 2026) · 2026–2031

Year	Australia	Philippines
2026	52.6	60.5
2027	53.2	60.5
2028	53.7	60.4
2029	54.1	59.7
2030	54.3	58.2
2031	54.3	56.4

Each country on its own

Good to know

What the government owes, as a share of the economy’s yearly output.
Source: IMF, World Economic Outlook, October 2026.
The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
Ranks count the 149 countries with a value in 2025, highest first.

How the layers work, where their data comes from and what they can’t tell you: Countries through time

Australia vs Philippines: Government debt

What the numbers say

Every year

Each country on its own

Good to know

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