National Debt (% of GDP): Rwanda

Analysis# Rwanda National Debt (% of GDP) Rwanda's national debt stood at 74.8% of GDP in 2026, representing a significant recovery from its all-time low of 18.3% in 2008. Despite this current level, the country has improved substantially since 1995, when debt peaked at 100.8% of GDP—a total reduction of 25.8 percentage points over three decades. The metric reflects Rwanda's post-conflict reconstruction and subsequent economic development phases. A sharp deterioration began in 2017, when debt was just 45.6% of GDP, before climbing steadily through 2020's pandemic-driven spike to 68.7%. The 2021-2022 period showed modest improvement, dipping to 60.9%, but the trend has reversed since, with projections indicating continued increases toward 74.8% by 2026. This upward trajectory suggests mounting fiscal pressures requiring policy attention.