Argentina: Net incurrence of liabilities, total (current LCU)

Key figures

What the numbers say

In 2024, Argentina's net incurrence of liabilities, total (current LCU) rose 134.8% on 2023 (from 8.99 trillion to 21.12 trillion).

Across the 11 yearly changes before that (2003 to 2023), the average change was +69.7% and a typical year strayed about 93.9% from that (the standard deviation). This year's change was 0.7 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 256.3% in 2020 and the biggest yearly fall was 76.8% in 2019. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 1.65 trillion a year. A straight line explains 59% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Argentina had the 3rd highest value of the 55 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Argentina in the 2024 ranking

• Colombia — 1st of 55: 99.03 trillion
• Korea, Rep. — 2nd of 55: 51.22 trillion
• Paraguay — 4th of 55: 9.66 trillion
• Tanzania — 5th of 55: 8 trillion
• Uganda — 6th of 55: 7.8 trillion

What this measures

Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 14 values

Net incurrence of liabilities, total (current LCU) in nearby economies

• Bahamas, The — 61.81 million (2024)
• Barbados — 464.42 million (2016)
• Brazil — 865.42 billion (2024)
• Chile — 7.77 trillion (2024)
• Colombia — 99.03 trillion (2024)
• Dominican Republic — 208.08 billion (2024)
• Ecuador — 2.95 billion (2022)
• El Salvador — 859.6 million (2024)
• Guatemala — 10.91 billion (2024)
• Honduras

More public sector data for Argentina

• Military expenditure (current LCU) — 4.82 trillion (2025)
• Military expenditure (% of GDP) — 0.56% (2025)
• Arms imports (SIPRI trend indicator values) — 108 million (2025)
• Military expenditure (current USD) — 3.88 billion (2025)
• Grants and other revenue (current LCU) — 8.18 trillion (2024)
• Grants and other revenue (% of revenue) — 8.29% (2024)
• Social contributions (current LCU) — 29.54 trillion (2024)
• Social contributions (% of revenue) — 29.96% (2024)
• Revenue, excluding grants (current LCU) — 98.45 trillion (2024)
• Revenue, excluding grants (% of GDP)

Reading data like this

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Questions people ask

What is Argentina's net incurrence of liabilities, total (current LCU)?

21.12 trillion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2002?

It is up 171,724% from 12.29 billion in 2002 (40.3% a year on average, compounded). The highest value was 21.12 trillion in 2024 and the lowest 8.78 billion in 2004.

How does Argentina rank?

3rd highest of 55 economies with data for 2024.

Is the latest change in net incurrence of liabilities, total (current LCU) unusual for Argentina?

In 2024, Argentina's net incurrence of liabilities, total (current LCU) rose 134.8% on 2023 (from 8.99 trillion to 21.12 trillion). Across the 11 yearly changes before that (2003 to 2023), the average change was +69.7% and a typical year strayed about 93.9% from that (the standard deviation). This year's change was 0.7 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.LBL.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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