how much debt is australia in

Australia's gross government debt is projected to be around 1.02 trillion AUD, which is approximately 35.5% of its GDP for the 2025 financial year. Net debt is forecasted to be 620.3 billion AUD, equivalent to about 21.5% of GDP. Australia's net debt is expected to increase further, reaching about 1.22 trillion AUD or 36.8% of GDP by 2028-29. Additionally, the total debt of Australia, including public and private sectors, accounts for an exceptionally high percentage of GDP at about 263.7% as of 2024, reflecting the combined liabilities relative to economic output. This includes government debt as well as debts of corporations and households, making it a broader measure of overall indebtedness in the economy.