Balance

Fiscal Balance (% of GDP)

Fiscal balance, sometimes also referred to as the government budget balance, is calculated as the difference between a government’s revenues (taxes and proceeds from asset sales) and its expenditures. It is often expressed as a ratio of Gross Domestic Product (GDP). If the balance is positive, the government has a surplus (it spends less than it receives). If the balance is negative, the government has a deficit (it spends more than it receives). The fiscal balance as a percentage of GDP is used as an instrument to measure a government’s ability to meet its financing needs and to ensure good management of public finances.

This chart displays Fiscal Balance (% of GDP) for Major Economies, Latin America, Euro Area, South Asia, Middle East & North Africa from 2010 to 2022.

Fiscal Balance (% of GDP) Data

2018 2019 2020 2021 2022
Afghanistan 1.7 -1.0 -2.2 -0.3 -
Albania -1.6 -1.9 -6.7 -4.6 -3.7
Algeria -6.8 -9.6 -11.9 -7.2 -2.9
Andorra 2.7 2.3 -1.1 -1.2 4.9
Angola 2.3 0.8 -1.9 3.8 0.7
Antigua and Barbuda 0.0 -1.2 -3.7 -2.3 -1.2
Argentina -4.9 -3.8 -8.4 -3.6 -3.8
Armenia -1.6 -0.8 -5.1 -4.5 -2.2
Aruba 1.1 3.5 -11.1 -4.8 -
Australia -0.5 0.0 -4.3 -6.4 -1.4
Austria 0.2 0.6 -8.0 -5.8 -3.5
Azerbaijan 5.4 9.0 -6.4 4.1 6.0
Bahamas, The -0.8 0.8 -4.4 -9.0 -1.3
Bahrain -11.8 -9.0 -17.9 -11.0 -6.1
Bangladesh -4.1 -5.4 -4.8 -3.6 -4.1
Barbados 3.4 6.0 -1.0 -0.9 2.5
Belarus 1.8 0.9 -2.9 -1.7 -3.9
Belgium -0.9 -2.0 -8.9 -5.4 -3.5
Belize -1.3 -2.9 -8.4 -3.2 -0.7
Benin -1.4 1.1 -2.7 -3.5 -3.9
Bhutan -0.3 -0.7 -1.5 -5.2 -6.0
Bolivia -8.1 -7.2 -12.7 -9.3 -7.1
Bosnia-Herz. 1.6 1.4 -4.6 0.6 0.9
Botswana -5.0 -8.5 -10.9 -2.4 0.0
Brazil -7.0 -5.8 -13.3 -4.3 -4.6
Brunei -3.6 -3.7 -15.8 -8.2 2.5
Bulgaria 1.7 2.1 -3.8 -4.0 -2.9
Burkina Faso -3.3 -2.1 -3.8 -5.7 -
Burundi -5.1 -4.1 -3.4 -2.3 -9.5
Cabo Verde -0.1 0.6 -6.5 -5.3 -
Cambodia 0.7 3.0 -3.4 -7.1 -0.9
Cameroon -2.4 -3.2 -3.2 -3.0 -1.1
Canada 0.4 0.0 -10.9 -2.9 0.1
CdI -2.9 -2.2 -5.4 -4.9 -6.8
Central African Republic -0.6 1.8 -3.1 -5.7 -
Chad 3.0 0.8 2.7 -0.8 -
Chile -1.7 -2.9 -7.3 -7.7 1.1
China -4.1 -4.9 -6.2 -3.8 -4.7
Colombia -3.1 -2.5 -7.8 -7.0 -5.3
Comoros -1.3 -4.1 -0.3 -2.5 -
Congo -0.7 -2.2 -3.0 -1.7 -0.4
Costa Rica -5.7 -6.7 -8.0 -5.0 -2.5
Croatia -0.1 0.2 -7.3 -2.5 0.1
Cuba -8.1 -6.2 -17.7 -11.7 -11.1
Cyprus -3.6 0.9 -5.7 -1.9 2.4
Czech Republic 0.9 0.3 -5.8 -5.1 -3.2
Denmark 0.8 4.2 0.4 4.1 3.4
Djibouti -1.6 0.4 -1.7 -2.6 -0.7
Dominica -16.7 -6.2 -5.6 -6.2 -0.4
Dominican Republic -2.3 -2.3 -7.6 -2.5 -2.7
DR Congo -1.1 -2.4 -3.3 -2.0 -0.8
Ecuador -2.8 -3.5 -7.1 -1.6 0.0
Egypt -9.1 -7.6 -7.5 -7.1 -6.2
El Salvador -2.5 -2.9 -10.3 -5.8 -2.8
Equatorial Guinea 1.2 2.7 -0.4 3.7 -
Eritrea 6.7 4.5 - - -
Estonia -0.6 0.1 -5.4 -2.5 -1.0
Ethiopia -2.5 -2.8 -2.8 -4.2 -
Euro Area -0.4 -0.6 -7.1 -5.2 -3.6
Fiji -1.8 -0.9 -4.8 -9.7 -8.5
Finland -0.9 -0.9 -5.6 -2.8 -0.8
France -2.3 -3.1 -9.0 -6.5 -4.8
Gabon 2.2 4.4 1.2 0.9 -
Gambia, The -2.7 0.6 1.0 -1.6 -2.7
Georgia -0.8 -1.8 -9.3 -6.0 -2.6
Germany 1.9 1.5 -4.3 -3.6 -2.5
Ghana -6.8 -7.5 -17.4 -12.0 -11.2
Greece 0.9 0.9 -9.7 -7.0 -2.4
Grenada 6.6 6.8 -2.6 2.1 2.6
Guatemala -1.9 -2.2 -4.9 -1.2 -1.7
Guinea -0.3 0.2 -2.4 -1.2 -
Guinea-Bissau -4.1 -2.8 -8.1 -4.3 -4.5
Guyana -1.9 -2.0 -7.3 -6.8 -
Haiti -1.1 -2.0 -2.5 -2.6 -2.1
Honduras -2.1 -2.5 -7.0 -5.1 -1.3
Hong Kong 2.4 -0.4 -8.7 1.0 -4.4
Hungary -2.1 -2.0 -7.6 -7.2 -6.2
Iceland 1.0 -1.6 -8.9 -8.5 -4.0
India -3.4 -4.6 -9.2 -6.7 -6.4
Indonesia -1.8 -2.2 -6.1 -4.6 -2.4
Iran -1.6 -4.5 -5.8 -4.2 -4.1
Iraq 7.8 0.8 -12.9 -0.4 7.6
Ireland 0.1 0.5 -5.0 -1.5 1.7
Israel -2.9 -3.7 -11.3 -4.3 0.6
Italy -2.2 -1.5 -9.6 -8.8 -8.0
Jamaica 1.2 0.9 -3.1 0.9 0.3
Japan -2.5 -3.0 -9.1 -6.2 -
Jordan -2.4 -3.3 -7.0 -6.1 -4.5
Kazakhstan -1.3 -1.8 -4.0 -3.0 -2.1
Kenya -6.9 -7.4 -8.1 -7.2 -5.8
Kiribati 6.4 13.7 4.7 -11.0 -
Korea 1.6 -0.6 -3.7 -1.5 -3.0
Kosovo -2.6 -2.7 -7.5 -0.9 -0.3
Kuwait -3.1 -9.5 -33.2 -7.0 11.5
Kyrgyzstan -0.6 -0.1 -3.1 -0.7 -0.3
Laos -4.7 -3.3 -5.6 -1.3 -1.6
Latvia -0.7 -0.5 -4.5 -7.2 -4.6
Lebanon -11.4 -11.0 -3.5 0.8 -
Lesotho -3.3 -4.2 1.5 -3.8 -6.2
Liberia -3.9 -3.9 -2.7 -1.6 -
Libya 9.4 11.9 -22.3 14.8 23.2
Lithuania 0.5 0.5 -6.5 -1.1 -0.7
Luxembourg 3.0 2.2 -3.4 0.6 -0.3
Macao 13.3 14.4 -21.3 - -
Madagascar -0.6 -0.7 -3.2 -2.0 -5.9
Malawi -1.6 -1.5 -5.0 -4.6 -4.6
Malaysia -3.7 -3.4 -6.2 -6.4 -5.6
Maldives -3.6 -5.1 -20.9 -11.3 -8.8
Mali -3.9 -0.7 -4.2 -3.5 -3.3
Malta 2.0 0.5 -9.6 -7.5 -5.7
Marshall Islands 2.9 -1.6 2.8 0.4 0.9
Mauritania 4.4 3.5 3.7 3.2 -
Mauritius 0.3 -5.4 -7.8 -1.6 -0.8
Mexico -2.0 -1.6 -2.8 -2.8 -3.2
Micronesia, Federated States of 24.5 18.6 6.3 4.7 -
Moldova -0.9 -1.5 -5.3 -2.6 -3.2
Mongolia 2.9 1.0 -9.2 -3.0 0.7
Montenegro -3.6 -2.9 -10.2 -2.0 -4.4
Morocco -3.4 -3.6 -7.1 -6.0 -5.2
Mozambique -5.6 1.7 -5.4 -3.6 -5.0
Myanmar -3.4 -3.9 -5.6 -11.0 -5.1
Namibia -1.9 -1.8 -3.9 -4.5 -2.1
Nauru 32.2 28.3 32.7 40.1 26.0
Nepal -5.4 -4.5 -4.7 -3.2 -2.3
Netherlands 1.5 1.8 -3.7 -2.2 -0.1
New Zealand 1.9 2.4 -7.3 -1.3 -2.7
Nicaragua -4.0 -1.7 -2.6 -1.5 0.6
Niger -2.1 -2.6 -3.8 -4.8 -
Nigeria -4.3 -4.7 -5.6 -6.0 -5.6
North Macedonia -1.8 -2.0 -8.0 -5.3 -4.4
Norway 7.8 6.5 -2.6 10.3 25.6
Oman -7.5 -7.8 -17.2 -3.6 2.8
Pakistan -5.8 -7.9 -7.1 -6.1 -7.9
Palau 6.2 -1.7 -16.1 -10.3 -3.6
Panama -3.1 -3.3 -10.0 -6.4 -3.9
Papua New Guinea -0.2 -1.9 -6.2 -4.4 -3.0
Paraguay -1.3 -2.8 -6.1 -3.6 -2.9
Peru -2.3 -1.6 -8.9 -2.5 -1.7
Philippines -3.1 -3.4 -7.6 -8.6 -7.3
Poland -0.2 -0.7 -6.9 -1.8 -3.7
Portugal -0.3 0.1 -5.8 -2.9 -0.3
Qatar 2.3 1.1 -2.0 0.2 10.3
Romania -2.8 -4.3 -9.3 -7.2 -6.3
Russia 2.6 1.8 -3.8 0.4 -2.1
Rwanda -2.6 -5.1 -9.5 -7.0 -5.8
Saint Kitts and Nevis 2.5 0.5 -1.7 6.8 -2.0
Saint Lucia 1.9 -0.5 -7.7 -2.2 1.5
Saint Vincent and the Grenadines 1.6 -0.2 -2.9 -5.0 -7.2
Samoa 0.1 1.5 5.4 1.7 5.4
San Marino -1.2 0.2 -36.6 -14.5 0.9
Sao Tome and Principe -1.6 0.7 3.3 - -
Saudi Arabia -5.5 -4.2 -10.7 -2.2 2.5
Senegal -3.7 -3.9 -6.4 -6.3 -6.6
Serbia 0.6 -0.2 -8.0 -4.1 -3.2
Seychelles 2.3 3.3 -12.3 -2.5 -
Sierra Leone -2.8 -0.4 -2.7 -4.5 -7.3
Singapore 0.7 0.2 -10.7 0.2 -0.1
Slovakia -1.0 -1.2 -5.4 -5.2 -2.0
Slovenia 0.7 0.7 -7.6 -4.6 -3.0
Solomon Islands 1.6 -1.4 -2.2 -3.4 -3.8
South Africa -4.3 -6.0 -9.8 -5.1 -4.6
South Sudan -0.2 1.4 -4.6 -9.1 5.4
Spain -2.6 -3.1 -10.1 -6.7 -4.7
Sri Lanka -5.0 -7.5 -12.2 -11.7 -10.2
Sudan -7.7 -10.6 -5.9 -0.2 -2.3
Suriname -2.5 -17.5 -8.4 -0.6 -
Swaziland -8.2 -4.6 -2.4 -2.7 -2.3
Sweden 0.8 0.5 -2.8 0.0 1.1
Switzerland 1.3 1.3 -3.0 -0.3 0.9
Taiwan 0.0 0.1 -1.0 -0.2 0.2
Tajikistan -2.7 -2.1 -4.3 -0.7 -0.2
Tanzania -1.9 -2.0 -2.5 -3.4 -
Thailand -2.5 -1.9 -6.8 -5.5 -2.7
Timor-Leste -26.6 -25.3 -18.9 -19.3 -19.8
Togo 1.2 3.8 -4.7 -2.5 -5.9
Tonga 3.7 3.9 6.1 -0.6 -
Trinidad and Tobago -5.9 -3.8 -12.2 -8.5 0.3
Tunisia -4.5 -3.3 -9.7 -7.9 -7.7
Turkey -1.9 -2.9 -3.4 -2.8 -0.9
Turkmenistan -0.2 -0.3 -0.1 0.4 2.4
Tuvalu 28.4 -8.1 8.3 -16.4 2.9
UAE 3.8 2.6 -2.5 4.0 9.9
Uganda -3.0 -4.8 -7.5 -7.5 -5.8
Ukraine -1.9 -2.2 -5.3 -3.4 -16.1
United Kingdom -2.3 -2.5 -13.1 -7.9 -4.7
United States -3.8 -4.6 -14.7 -12.1 -5.4
Uruguay -2.7 -3.2 -5.2 -3.5 -3.2
Uzbekistan 2.0 -0.3 -3.3 -4.6 -4.2
Vanuatu 7.2 3.7 -1.1 - -
Venezuela -30.3 -10.0 -5.0 -4.6 -6.0
Vietnam -1.0 -0.4 -2.9 -1.4 0.3
Yemen -7.8 -5.9 -4.5 -0.9 -2.6
Zambia -8.3 -9.4 -13.8 -8.1 -7.7
Zimbabwe -5.4 -0.9 0.8 -2.2 -2.0

Free Sample Report

Interested in Fiscal Balance (% of GDP)? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest