Public debt as a share of GDP rose 0.272% to 53.0% in Armenia in 2024, according to the National Statistical Office.
Historically, public debt as a share of GDP in Armenia reached an all time high of 63.5% in 2020 and an all time low of 14.3% in 2007. When compared to Armenia's main peers, public debt as a share of GDP in Azerbaijan amounted to 23.8%, 39.8% in Georgia, 32.2% in Iran and 39.6% in Turkey in 2024.
Armenia has been ranked 93rd within the group of 166 countries we follow in terms of public debt as a share of GDP, 2 places below the position seen 10 years ago.
| Public Debt (As % of GDP) | Unit | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
| Armenia | % | 60.2% | 52.3% | 52.9% | 53.0% | 53.0% | ||||||||||||||||
| Azerbaijan | % | 26.4% | 20.7% | 22.1% | 23.8% | 25.3% | ||||||||||||||||
| Bulgaria | % | 23.8% | 22.8% | 25.2% | 26.9% | 28.8% | ||||||||||||||||
| Georgia | % | 49.5% | 39.8% | 41.0% | 39.8% | 38.7% | ||||||||||||||||
| Greece | % | 199% | 178% | 170% | 164% | 159% | ||||||||||||||||
| Iran | % | 42.4% | 34.2% | 31.9% | 32.2% | 33.5% | ||||||||||||||||
| Iraq | % | 59.1% | 36.7% | 34.8% | 31.6% | 29.2% | ||||||||||||||||
| Pakistan | % | 74.9% | 77.8% | 71.1% | 66.0% | 63.7% | ||||||||||||||||
| Russia | % | 17.0% | 16.2% | 16.9% | 16.4% | 15.3% | ||||||||||||||||
| Turkey | % | 41.8% | 37.5% | 37.7% | 39.6% | 42.2% | ||||||||||||||||
| Turkmenistan | % | 11.1% | 8.42% | 6.81% | 5.93% | 5.25% |
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