General government gross debt for Australia
GGGDTAAUA188N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.83
Year-over-Year Change
81.05%
Date Range
1/1/1989 - 1/1/2024
Summary
The General government gross debt for Australia metric measures the total debt owed by all levels of government in Australia. It is a key indicator of the fiscal health and sustainability of the Australian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
General government gross debt represents the total outstanding debt obligations of federal, state, and local governments in Australia. This comprehensive measure is widely used by economists and policymakers to analyze the government's fiscal position and ability to service its debt.
Methodology
The data is collected and calculated by the International Monetary Fund (IMF) based on government finance statistics.
Historical Context
General government gross debt is closely monitored by financial markets and policymakers for its implications on economic growth, interest rates, and government creditworthiness.
Key Facts
- Australia's general government gross debt was 63.3% of GDP in 2021.
- Debt levels have risen in recent years due to pandemic-related spending.
- High government debt can constrain a country's policy options and economic growth.
FAQs
Q: What does this economic trend measure?
A: The General government gross debt for Australia metric measures the total debt owed by all levels of government in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to assess the fiscal health and sustainability of the Australian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the International Monetary Fund (IMF) based on government finance statistics.
Q: How is this trend used in economic policy?
A: General government gross debt is closely monitored by financial markets and policymakers for its implications on economic growth, interest rates, and government creditworthiness.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the IMF, which may result in some delay between the reference period and publication.
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Citation
U.S. Federal Reserve, General government gross debt for Australia (GGGDTAAUA188N), retrieved from FRED.