🇰🇼 Kuwait
Public Sector Debt · 2026
Total Debt
15.7%
of GDP
Global Rank
#181
of 192
S&P Rating
A+
Credit rating
SOE Debt
+5.0%
3 categories
Sovereign Wealth
589%
of GDP in SWF assets
Where the Debt Sits
Central Government
Energy SOEs
Central Government: 10.7%Energy SOEs: 3.0%Infrastructure: 0.5%Public Corps: 1.5%
Who Holds This Debt
Holder Breakdown
Domestic 80%
Foreign 20%
Domestic: 80%Foreign: 20%
Currency Denomination
Local 70%
Foreign 30%
Local currency: 70%Foreign currency: 30%
Full Debt Breakdown
Central Government10.7% of GDP
Central GovernmentIMF WEO — General Government Debt
10.7%Energy SOEs3.0% of GDP
Kuwait Petroleum Corporation (KPC/KNPC)KPC Annual Report 2023-24 / IMFKPC signed KD1.5B ($4.9B) syndicated loan; low leverage 0.15x D/E
3.0%Infrastructure SOEs0.5% of GDP
Kuwait Airways & Infrastructure SOEsIMF Article IV 2024Minimal SOE borrowing culture
0.5%Public Corporations1.5% of GDP
KIPCO & Public CorporationsIMF Article IV 2024Partially state-linked holding company
1.5%Total Corporate Debt59.1% of GDP
NF corporate debt (est.)WB WDI 2018
59.1%Household Debt31.8% of GDP
Household debt (est.)WB WDI 2018
31.8%Unfunded Pension Liabilities100.0% of GDP
PIFSS pension unfunded (est.)IMF Kuwait Art IV; World Bank GCC studiesVery generous DB. IMF repeatedly flagged sustainability.
100.0%All Layers Total206.6%
Credit Ratings
S&P
A+
Moody's
A1
Fitch
AA-
Data Sources
IMF WEO — General Government Debtgeneral_government · Updated semi_annual
Dec 202610.7% GDP
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