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

Key figures

What the numbers say

In 2023, Lesotho's net incurrence of liabilities, total (current LCU) fell 852.06 million on 2022 (from 1.12 billion to 272.1 million).

Across the 30 yearly changes before that (1993 to 2022), the average change was +43.49 million and a typical year strayed about 1.22 billion from that (the standard deviation). This year's change was 0.7 standard deviations below 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 4.6 billion in 2020 and the biggest yearly fall was 3.88 billion 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 2014 to 2023 there is no clear straight-line trend: a straight line explains less than 1% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

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

How it compares

In 2023, Lesotho had the 13th highest value of the 16 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 Lesotho in the 2023 ranking

• Botswana — 10th of 16: 8.29 billion
• Jordan — 11th of 16: 2.37 billion
• Vanuatu — 12th of 16: 1.83 billion
• Tonga — 14th of 16: 693,426
• Kiribati — 15th of 16: -12.76 million
• Samoa — 16th of 16: -69.71 million

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 36 values

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

• Angola — -778.29 billion (2024)
• Botswana — 8.29 billion (2023)
• Burkina Faso — 900.19 billion (2024)
• Burundi — 181.93 billion (2021)
• Cabo Verde — 16.42 billion (2020)
• Cameroon — 593.86 billion (2021)
• Central African Republic — 50.67 billion (2021)
• Congo, Dem. Rep. — 1.39 trillion (2022)
• Congo, Rep. — 119.5 billion (2021)
• Côte d'Ivoire

More public sector data for Lesotho

• Military expenditure (current USD) — 39.91 million (2025)
• Military expenditure (current LCU) — 713.78 million (2025)
• Military expenditure (% of GDP) — 1.63% (2025)
• Grants and other revenue (current LCU) — 7.98 billion (2024)
• Taxes on goods and services (current LCU) — 7.69 billion (2024)
• Taxes on goods and services (% of industry and services value added) — 22.08% (2024)
• Customs and other import duties (current LCU) — 3.04 billion (2024)
• Customs and other import duties (% of tax revenue) — 19.61% (2024)
• Taxes on international trade (current LCU) — 3.04 billion (2024)

Reading data like this

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Questions people ask

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

272.1 million in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1987?

It is up 69.49% from 160.54 million in 1987 (1.48% a year on average, compounded). The highest value was 1.57 billion in 2021 and the lowest -3.8 billion in 2019.

How does Lesotho rank?

13th highest of 16 economies with data for 2023.

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

In 2023, Lesotho's net incurrence of liabilities, total (current LCU) fell 852.06 million on 2022 (from 1.12 billion to 272.1 million). Across the 30 yearly changes before that (1993 to 2022), the average change was +43.49 million and a typical year strayed about 1.22 billion from that (the standard deviation). This year's change was 0.7 standard deviations below 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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