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MacroPanama

Government debt in Panama

How indebted is the state my taxes would go to?

Panama's government debt is 56.60 % — #66 of 124 countries on the atlas (lower is better). Period 2025.

56.60%

Checked 8 Sept 2026Period 2025

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

The central government owes about 0.6 years' worth of the country's entire economic output.

Government debt in Panama over time

88.70 %59.75 %30.80 %88.70 % · 199430.80 % · 20131994: 88.70 %1995: 86.70 %1996: 73.60 %1997: 67.30 %1998: 64.30 %1999: 60.40 %2000: 58.00 %2001: 62.10 %2002: 60.90 %2003: 59.90 %2004: 61.50 %2005: 61.50 %2006: 56.10 %2007: 48.20 %2008: 40.60 %2009: 39.50 %2010: 38.50 %2011: 35.90 %2012: 31.30 %2013: 30.80 %2014: 32.90 %2015: 34.10 %2016: 34.00 %2017: 34.30 %2018: 36.30 %2019: 42.50 %2020: 62.40 %2021: 58.00 %2022: 56.20 %2023: 54.40 %2024: 57.80 %2025: 56.60 %19942009202556.60 %
32 official observations, 1994 → 2025. Every point is a published value — never interpolated.
Rank
#66 of 124
lower is better
Ranked behind
47 %
58 of 124 countries
Latest move
▼ 1.20 pp
since 2024
Below its peak
32.10 pp
peak 88.70 % in 1994
Full series
▼ 32.10 pp
since 1994

In Americas: #10 of 26vs median 54.55 %: +2.05 pp (worse)

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 %Panama: ahead of 47 % of the 124 countries with a published government debtPanama 56.60 %12.30 %145.70 %
Half of all 124 countries sit between 36.00 % and 80.30 %. Panama is ahead of 47 % of them. Axis trimmed to the 2nd–98th percentile; 5 values beyond it sit in the end bars.

The neighbourhood

#CountryGovernment debtvs Panama
64 Cyprus55.30 %−1.30 pp
65 Croatia55.90 %−0.70 pp
66 Panama56.60 %—
67 Poland58.80 %+2.20 pp
68 Dominican Republic59.00 %+2.40 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 Panama

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