Bulgaria vs Serbia: Government debt

Government debt in 2025: 29.9% of GDP in Bulgaria and 42.2% of GDP in Serbia, by IMF estimates. In 2025 the value was higher in Serbia, by 12.4 percentage points, or 1.41 times that in Bulgaria.

Watch it change on the map

% of GDP · IMF

BulgariaSerbiaIMF projection (World Economic Outlook, October 2026)

What the numbers say

Serbia has been higher in every year both have figures for since 2000.
In 2025, Bulgaria ranked 129 and Serbia ranked 97 of 149 countries, counting from the highest.
The IMF projection (World Economic Outlook, October 2026) puts Bulgaria at 40.9% of GDP and Serbia at 40.9% of GDP in 2031.

Every year

% of GDP · IMF

Year	Bulgaria	Serbia
2025	29.9	42.2
2024	23.8	44.1
2023	22.9	45.7
2022	22.5	50.9
2021	23.9	53.6
2020	22.7	54.3
2019	18.4	49.5
2018	20.2	51.1
2017	22.9	55.3
2016	27	65
2015	25.4	67.1
2014	26.3	63.5
2013	17.2	61.2
2012	16.6	58
2011	14.3	46
2010	14.1	42.5
2009	14.5	35.3
2008	14.7	29.4
2007	17.6	30
2006	22.6	37
2005	28.5	50.1
2004	37.8	57.6
2003	45.4	64.5
2002	53.4	68.4
2001	67.1	95.9
2000	73.3	200.6
1999	78.7	–
1998	67.3	–

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

Year	Bulgaria	Serbia
2026	32.9	42.9
2027	34.6	42.9
2028	36.2	42.8
2029	38.2	42.2
2030	39.8	41.6
2031	40.9	40.9

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

Bulgaria vs Serbia: Government debt

What the numbers say

Every year

Each country on its own

Good to know

Bulgaria vs Serbia

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