National Debt (% of GDP): Malawi

Analysis# Malawi National Debt (% of GDP) Malawi's national debt stood at 78.3% of GDP in 2026, down from a devastating peak of 101.5% in 2002. The country achieved its lowest debt burden of 17.9% in 2006, demonstrating a net improvement of 22.9 percentage points over the full 2002–2030 period. However, the trajectory since 2017 reveals a sharp reversal, with debt climbing from 40% to current levels. The most dramatic deterioration occurred between 2019 and 2023, when debt surged from 41.2% to 86.7%—a seven-year jump driven by macroeconomic pressures and fiscal challenges. A slight pullback emerged in 2025–2026, with debt declining from 87.6% to 78.3%, suggesting potential stabilization. The recent moderation indicates early signs of fiscal adjustment, though debt remains elevated relative to mid-2000s levels and warrants continued monitoring.