Rwanda vs South Africa

Rwanda vs South Africa: Government debt

Government debt: 64.7% of GDP in Rwanda in 2025 and 76% of GDP in South Africa in 2024, by IMF estimates. In 2024 the value was higher in South Africa, by 12.5 percentage points, or 1.2 times that in Rwanda.

% of GDP · IMF

Rwanda vs South Africa: Government debtGovernment debt: 64.7% of GDP in Rwanda in 2025 and 76% of GDP in South Africa in 2024, by IMF estimates. In 2024 the value was higher in South Africa, by 12.5 percentage points, or 1.2 times that in Rwanda.
RwandaSouth AfricaIMF projection (World Economic Outlook, October 2026)

What the numbers say

  • South Africa has been higher since 2006, when it overtook Rwanda.
  • The IMF projection (World Economic Outlook, October 2026) puts Rwanda at 59.9% of GDP and South Africa at 79.8% of GDP in 2031.

Every year

% of GDP · IMF

YearRwandaSouth Africa
202564.778.4
202463.476
202361.673.2
20225970.7
202166.268.8
202066.768.9
201952.856.1
201849.251.5
201746.148.6
201641.547.1
201533.545.2
201429.543.3
20132740.4
201219.337.4
201118.934.7
20101931.2
200918.727
200818.524.1
200722.424.3
200622.828
200558.929.6
200480.930.7
200379.531.5
20029231.8
20018438.1
20008637.9
199978.4–
199870.1–
199772.2–
199683.5–
1995100.8–
  • 12.3Projected
IMF projection (World Economic Outlook, October 2026) · 2026–2031
YearRwandaSouth Africa
202663.478
202763.478.1
202863.478.8
20296279.5
20306179.7
203159.979.8

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

Rwanda vs South Africa

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