National Debt (% of GDP): Benin

Analysis# Benin National Debt (% of GDP) Benin's national debt stood at 49.6% of GDP in 2026, down from its peak of 54.9% in 2023. Since 1998, the country has reduced its debt-to-GDP ratio by 7.5 percentage points overall, though the metric remains substantially higher than the 2006 low of 8.4%. The current level reflects a gradual recovery following years of rapid accumulation. A sharp debt surge occurred between 2019 and 2023, when the ratio climbed from 40.4% to 54.9%—a critical period driven by increased borrowing and external pressures. Since that peak, Benin has reversed course, declining 5.3 percentage points over three years. Projections for 2030 suggest continued downward momentum, positioning the country on a steadier fiscal path if current trends hold.