🇧🇹 Bhutan
Public Sector Debt · 2026
Total Debt
202.9%
of GDP
Global Rank
#3
of 192
SOE Debt
+81.8%
2 categories
5yr Change
-8pp
improving
Where the Debt Sits
Central Government
Energy SOEs
Central Government: 121.1%Energy SOEs: 64.4%Public Corps: 17.4%
Full Debt Breakdown
Central Government121.1% of GDP
Central GovernmentIMF WEO — General Government Debt
121.1%Energy SOEs64.4% of GDP
Hydropower SOEs (DGPC, MHPA, Puna, Nikachhu, Dagachhu)Bhutan MOF Public Debt Situation Report March 2024; IMFNu 167.5B = 62.8% GDP. Mostly Indian govt loans for mega-projects.
62.8%Bhutan Power Corporation (BPC)IMF 2024 Article IV; Bhutan MOFNational electricity distribution utility. Owned by DHI.
1.6%Public Corporations17.4% of GDP
Druk Holding & Investments (DHI) — non-hydroIMF 2024 Article IV ConsultationUS$539M to RMA primarily for Bitcoin mining at 420 MW facility.
17.4%Total Corporate Debt46.6% of GDP
NF corporate debt (est.)WB WDI 2020
46.6%Household Debt25.1% of GDP
Household debt (est.)WB WDI 2020
25.1%All Layers Total274.6%
Data Sources
IMF WEO — General Government Debtgeneral_government · Updated semi_annual
Dec 2026121.1% GDP
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