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MacroMadagascar

Government debt in Madagascar

How indebted is the state my taxes would go to?

Madagascar's government debt is 48.70 % — #51 of 124 countries on the atlas (lower is better). Period 2025.

48.70%

Checked 8 Sept 2026Period 2025

Source: IMF World Economic Outlook (general government gross debt, % of GDP)

The central government owes about 0.5 years' worth of the country's entire economic output.

Government debt in Madagascar over time

113.80 %71.00 %28.20 %113.80 % · 199128.20 % · 20071990: 92.70 %1991: 113.80 %1992: 110.90 %1993: 105.20 %1994: 96.00 %1995: 95.80 %1996: 98.70 %1997: 89.70 %1998: 108.50 %1999: 104.10 %2000: 90.20 %2001: 82.10 %2002: 86.70 %2003: 85.90 %2004: 81.90 %2005: 74.40 %2006: 32.20 %2007: 28.20 %2008: 31.00 %2009: 34.90 %2010: 32.30 %2011: 29.90 %2012: 30.40 %2013: 36.20 %2014: 37.80 %2015: 44.10 %2016: 40.30 %2017: 40.10 %2018: 42.90 %2019: 41.30 %2020: 52.90 %2021: 49.40 %2022: 49.80 %2023: 52.10 %2024: 49.80 %2025: 48.70 %19902008202548.70 %
36 official observations, 1990 → 2025. Every point is a published value — never interpolated.
Rank
#51 of 124
lower is better
Ranked behind
59 %
73 of 124 countries
Latest move
▼ 1.10 pp
since 2024
Below its peak
65.10 pp
peak 113.80 % in 1991
Full series
▼ 44.00 pp
since 1990

In Africa: #5 of 20vs median 54.55 %: −5.85 pp (better)

Among 124 countries

5 of 124 countries between 12.30 % and 17.86 %4 of 124 countries between 17.86 % and 23.42 %9 of 124 countries between 23.42 % and 28.97 %9 of 124 countries between 28.97 % and 34.53 %9 of 124 countries between 34.53 % and 40.09 %11 of 124 countries between 40.09 % and 45.65 %8 of 124 countries between 45.65 % and 51.21 %11 of 124 countries between 51.21 % and 56.77 %8 of 124 countries between 56.77 % and 62.32 %7 of 124 countries between 62.32 % and 67.88 %6 of 124 countries between 67.88 % and 73.44 %5 of 124 countries between 73.44 % and 79.00 %6 of 124 countries between 79.00 % and 84.56 %7 of 124 countries between 84.56 % and 90.12 %2 of 124 countries between 90.12 % and 95.67 %3 of 124 countries between 95.67 % and 101.23 %4 of 124 countries between 101.23 % and 106.79 %1 of 124 countries between 106.79 % and 112.35 %2 of 124 countries between 112.35 % and 117.91 %1 of 124 countries between 123.47 % and 129.02 %2 of 124 countries between 134.58 % and 140.14 %4 of 124 countries between 140.14 % and 145.70 %median 54.40 %Madagascar: ahead of 59 % of the 124 countries with a published government debtMadagascar 48.70 %12.30 %145.70 %
Half of all 124 countries sit between 36.00 % and 80.30 %. Madagascar is ahead of 59 % of them. Axis trimmed to the 2nd–98th percentile; 5 values beyond it sit in the end bars.

The neighbourhood

#CountryGovernment debtvs Madagascar
49 Latvia46.90 %−1.80 pp
50 Nepal48.10 %−0.60 pp
51 Madagascar48.70 %—
52 Ghana48.80 %+0.10 pp
53 Armenia49.00 %+0.30 pp

General government gross debt as a share of GDP (IMF World Economic Outlook, annual).

How to read this figure

Central government debt as a share of GDP (World Bank). General government debt (including local government and social funds) can be meaningfully higher; comparisons across countries are indicative.

Next, about Madagascar

Debt per personGDP growthInflation rate
Government debt, all countries ranked →Compare Madagascar with another country →Everything about Madagascar →
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