National Debt (% of GDP): Seychelles

Analysis# Seychelles National Debt (% of GDP) Seychelles currently carries a national debt equal to 58.4% of GDP in 2026. This represents a substantial recovery from the country's all-time peak of 199.8% in 2001, though it remains above the historic low of 48.9% reached in 2019. Over the 36-year period from 1990 to 2026, national debt has declined by 27.4 percentage points, reflecting long-term fiscal consolidation efforts across multiple decades. The 2020 COVID-19 pandemic triggered a sharp spike to 77.4%, reversing years of steady progress. However, subsequent years show disciplined debt reduction, declining from 71% in 2021 to 55.3% by 2023. Recent data indicates stabilization rather than continued improvement, with the ratio hovering between 56–58% from 2024 onward. The modest uptick projected for 2026 suggests Seychelles faces near-term fiscal pressures despite demonstrable progress from pandemic-era highs.