National debt of Eritrea 2026 The statistic shows the national debt of Eritrea from 2016 to 2026. In 2020, the estimated national debt of Eritrea amounted to around 3.87 billion U.S. dollars.

In 2018 Eritrea public debt was 3,151 million euros3,722 million dollars, has decreased 136 million since 2017. This amount means that the debt in 2018 reached 185.61% of Eritrea GDP, a 16.93 percentage point fall from 2017, when it was 202.54% of GDP. If we check the tables we can see the evolution of Eritrea debt.

Eritrea’s gross public debt reached 189.2% of GDP in 2019, up from 185.8% in 2018, and the country is in debt distress. The growth in gross public debt was driven by primary deficits and high real effective interest rates, with real GDP growth partially offsetting the buildup in public debt.

Oil and gas exploration in the Red Sea off Eritrea began in the 1930s. However, as of January 2003, Eritrea had no proven reserves of crude oil or natural gas. It also has no known reserves of coal. As a result, the country, as of 2001, has had no output of oil, natural gas or coal.

Mdree-Bahree

Eritrea remains one of the least developed nations in the world. There are currently only two mines in operation in Eritrea: gold, copper and zinc mine Bisha, which is 60% owned by Nevsun Resources, and gold mine Zara, which is 60% owned by Shanghai Sfeco Group of China.

The Eritrea Telecommunication Services Corporation, more commonly known as EriTel, is the sole operator of both landline and mobile telephone communication infrastructure in Eritrea. However, it is one of several internet service providers in the country. Cell phones are in increasing use throughout the country.

Eritrea has an extensive amount of resources such as copper, gold, granite, marble, and potash. The Eritrean economy has undergone extreme changes due to the War of Independence. In 2011, Eritrea’s GDP grew by 8.7 percent making it one of the fastest growing economies in the world.