In 2024, Belarus's national debt amounted to nearly 41.3 percent of its gross domestic product (GDP), which was the highest ratio among the Commonwealth of Independent States (CIS) countries. Azerbaijan and Uzbekistan ranked second and third, with national debts amounting to approximately 35 percent and 33 percent of their GDP, respectively. The debt-to-GDP ratio is an indicator of a country’s ability to produce and sell goods in order to pay back any present debts. A higher ratio means that a country does not produce enough to pay off its debt, whereas a lower ratio indicates enough economic activity to make debt payments.
National debt in relation to gross domestic product (GDP) in the Commonwealth of Independent States (CIS) in 2024, by country
National debt was defined by the source as "all liabilities that require payments of interest and/or principal by the debtor to the creditor. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable."
Georgia and Ukraine are not official members of the CIS and were added due to their geographic and economic proximity to CIS countries.
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IMF. (September 19, 2024). National debt in relation to gross domestic product (GDP) in the Commonwealth of Independent States (CIS) in 2024, by country [Graph]. In Statista. Retrieved September 20, 2024, from https://www.statista.com/statistics/1356641/cis-national-debt-to-gdp-by-country/
IMF. "National debt in relation to gross domestic product (GDP) in the Commonwealth of Independent States (CIS) in 2024, by country." Chart. September 19, 2024. Statista. Accessed September 20, 2024. https://www.statista.com/statistics/1356641/cis-national-debt-to-gdp-by-country/
IMF. (2024). National debt in relation to gross domestic product (GDP) in the Commonwealth of Independent States (CIS) in 2024, by country. Statista. Statista Inc.. Accessed: September 20, 2024. https://www.statista.com/statistics/1356641/cis-national-debt-to-gdp-by-country/
IMF. "National Debt in Relation to Gross Domestic Product (Gdp) in The Commonwealth of Independent States (Cis) in 2024, by Country." Statista, Statista Inc., 19 Sep 2024, https://www.statista.com/statistics/1356641/cis-national-debt-to-gdp-by-country/
IMF, National debt in relation to gross domestic product (GDP) in the Commonwealth of Independent States (CIS) in 2024, by country Statista, https://www.statista.com/statistics/1356641/cis-national-debt-to-gdp-by-country/ (last visited September 20, 2024)
National debt in relation to gross domestic product (GDP) in the Commonwealth of Independent States (CIS) in 2024, by country [Graph], IMF, September 19, 2024. [Online]. Available: https://www.statista.com/statistics/1356641/cis-national-debt-to-gdp-by-country/