National Debt (% of GDP): Uganda

Analysis# Uganda National Debt (% of GDP) Uganda's national debt reached 53% of GDP in 2026, reflecting a substantial 19.9 percentage point increase since 1997. While this figure remains below the all-time peak of 55.1% recorded in 2003, it represents a dramatic reversal from the historic low of 14.8% achieved in 2009. The country's debt-to-GDP ratio has climbed steadily over the past decade, nearly tripling from 33.6% in 2017. The acceleration intensified sharply between 2019 and 2020, when debt jumped from 37.5% to 46.3% of GDP—a spike likely driven by pandemic-related fiscal pressures. Since then, the ratio has continued rising incrementally, adding approximately 6.7 percentage points over six years through 2026. The upward trajectory suggests Uganda faces ongoing fiscal challenges, with projections indicating sustained debt levels above 50% of GDP in the near term.