Indonesia vs Singapore: Government debt

Government debt: 40.9% of GDP in Indonesia in 2025 and 165.8% of GDP in Singapore in 2024, by IMF estimates. In 2024 the value was higher in Singapore, by 125.6 percentage points, or 4.13 times that in Indonesia.

Watch it change on the map

% of GDP · IMF

IndonesiaSingaporeIMF projection (World Economic Outlook, October 2026)

What the numbers say

Singapore has been higher since 2001, when it overtook Indonesia.
The IMF projection (World Economic Outlook, October 2026) puts Indonesia at 41.6% of GDP and Singapore at 169.2% of GDP in 2031.

Every year

% of GDP · IMF

Year	Indonesia	Singapore
2025	40.9	165.7
2024	40.2	165.8
2023	39.6	170.4
2022	40.1	153.3
2021	41.1	139.9
2020	39.8	147.1
2019	30.6	127.7
2018	30.4	109.2
2017	29.4	107.3
2016	28	105.9
2015	27	102.1
2014	24.6	97.8
2013	24.9	98.2
2012	23	106.7
2011	23.1	103.1
2010	26.4	98.7
2009	26.5	101.7
2008	30.3	97.9
2007	38.1	87.8
2006	35.9	86.5
2005	42.6	92.7
2004	51.3	95.7
2003	55.6	99.1
2002	62.3	96.3
2001	73.7	94.5
2000	87.4	82.3
1999	–	85.3
1998	–	84.7
1997	–	70.8
1996	–	71.3
1995	–	69.8
1994	–	70.7
1993	–	71.2
1992	–	79
1991	–	76.4
1990	–	73.5

12.3Projected

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

Year	Indonesia	Singapore
2026	41.7	166.4
2027	41.6	167.1
2028	41.4	167.9
2029	41.5	168.5
2030	41.6	169
2031	41.6	169.2

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

Indonesia vs Singapore: Government debt

What the numbers say

Every year

Each country on its own

Good to know

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