National Debt (% of GDP): Sweden

Analysis# Sweden National Debt (% of GDP) Sweden's national debt stands at 35.6% of GDP in 2026, reflecting a remarkable fiscal recovery over three decades. The country has reduced its debt burden by 46.1% since 1993, falling far below its 1996 peak of 68.9%. The 2023 low of 31.8% marked Sweden's strongest fiscal position in the data series, demonstrating sustained progress in debt management. Sweden's debt trajectory reversed sharply after the mid-1990s crisis, declining steadily for two decades. A temporary spike occurred in 2020 due to pandemic spending, but the downward trend resumed thereafter. Current projections show modest debt growth through 2026, rising from the 2023 low but remaining well-controlled. Sweden's fiscal discipline continues to position it among Europe's more stable economies.