Tips for reading government debt-to-GDP ratios

5 minute read This article explores how and why different debt-to-GDP ratios for the same country and period may be correct. While there is only one figure used for GDP, there are usually several official measures of debt in OECD countries. The differences reflect users’ demand for different indicators. There may also be differences in the ‘valuation’ and ‘consolidation’ bases of the debt measures. Individuals and institutions using or quoting debt-to-GDP ratios should be aware of the differenc