National Debt (% of GDP): Turkmenistan

Analysis# Turkmenistan National Debt (% of GDP) Turkmenistan's national debt stood at 3.6% of GDP in 2026, approaching its all-time low of 3.1% recorded in 2007. This represents a dramatic reversal from the country's peak of 81.6% in 1998, marking a 94.4% decline over nearly three decades. The sharp drop reflects decades of fiscal consolidation following the post-Soviet economic crisis of the late 1990s. The most striking shift occurred between 2017 and 2023, when debt fell from 24.7% to 5.5%—a seven-year contraction that underscores sustained deleveraging efforts. The downward momentum has continued into the 2020s, with debt declining each year from 15.4% in 2020 to the current 3.6%. Projections indicate the ratio will stabilize near current levels, positioning Turkmenistan among the world's lowest-debt economies.