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 Middle East & North Africa, Latin America, Euro Area, South Asia, Major Economies from 2010 to 2023.
Fiscal Balance (% of GDP) Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Afghanistan | -2.2 | -0.5 | -1.0 | -1.2 | - |
Albania | -6.7 | -4.6 | -3.6 | -1.3 | -0.7 |
Algeria | -10.5 | -6.3 | -3.0 | -5.2 | -9.3 |
Andorra | -1.1 | -1.2 | 4.8 | 2.1 | - |
Angola | -1.7 | 3.4 | 0.6 | -1.9 | - |
Antigua and Barbuda | -3.7 | -2.3 | -0.3 | 0.5 | - |
Argentina | -8.4 | -3.6 | -3.8 | -4.4 | 0.3 |
Armenia | -5.1 | -4.5 | -2.2 | -1.9 | -3.5 |
Aruba | -11.4 | -5.1 | 3.7 | 6.8 | - |
Australia | -4.3 | -6.4 | -1.4 | 0.9 | 0.6 |
Austria | -8.2 | -5.7 | -3.4 | -2.6 | -4.7 |
Azerbaijan | -6.4 | 4.2 | 6.0 | 7.9 | 3.2 |
Bahamas, The | -4.3 | -8.9 | -1.3 | 0.3 | 2.9 |
Bahrain | -17.3 | -10.6 | -5.1 | -8.5 | - |
Bangladesh | -4.8 | -3.6 | -4.1 | -4.5 | -3.8 |
Barbados | -0.9 | -0.8 | 2.4 | 3.5 | 3.8 |
Belarus | -2.9 | -0.2 | -2.0 | 0.7 | - |
Belgium | -9.0 | -5.4 | -3.6 | -4.1 | -4.5 |
Belize | -8.6 | -3.3 | -0.5 | -2.0 | - |
Benin | -2.7 | -3.5 | -3.9 | -2.5 | -1.3 |
Bhutan | -1.4 | -4.8 | -5.6 | -3.0 | 1.8 |
Bolivia | -12.7 | -9.3 | -7.1 | - | - |
Bosnia-Herz. | -4.5 | -0.2 | 0.1 | -1.7 | -1.6 |
Botswana | -10.9 | -2.3 | 0.0 | -4.2 | - |
Brazil | -13.3 | -4.3 | -4.6 | -8.8 | -8.5 |
Brunei | -15.8 | -8.2 | 2.5 | -10.9 | - |
Bulgaria | -3.8 | -4.0 | -3.0 | -2.0 | -3.0 |
Burkina Faso | -3.8 | -5.7 | -8.5 | -4.3 | -3.5 |
Burundi | -3.4 | -2.3 | -8.0 | -5.5 | -3.4 |
Cabo Verde | -6.7 | -5.3 | -2.0 | 1.9 | - |
Cambodia | -2.5 | -5.2 | -0.3 | -2.8 | - |
Cameroon | -3.2 | -3.0 | -1.1 | -0.6 | - |
Canada | -10.9 | -2.9 | 0.1 | -0.6 | - |
CdI | -5.4 | -4.9 | -6.7 | -5.2 | -4.0 |
Central African Republic | -3.1 | -5.7 | -4.9 | -3.0 | -4.1 |
Chad | 1.9 | -0.6 | 4.9 | -0.2 | -0.7 |
Chile | -7.3 | -7.7 | 1.1 | -2.4 | -2.8 |
China | -6.1 | -3.7 | -4.6 | -4.5 | -4.8 |
Colombia | -7.8 | -7.0 | -5.3 | -4.2 | -6.7 |
Comoros | -0.3 | -2.5 | -4.0 | -1.0 | - |
Congo | -1.1 | 1.6 | 8.9 | 5.8 | - |
Costa Rica | -8.0 | -5.0 | -2.4 | -3.3 | -3.8 |
Croatia | -7.2 | -2.6 | 0.1 | -0.8 | -2.4 |
Cuba | -17.7 | -11.7 | -11.1 | - | - |
Cyprus | -5.6 | -1.6 | 2.7 | 1.7 | 4.3 |
Czech Republic | -5.6 | -5.0 | -3.1 | -3.8 | -2.2 |
Denmark | 0.4 | 4.1 | 3.5 | 3.4 | 4.6 |
Djibouti | -2.6 | -3.1 | -1.5 | -3.5 | - |
Dominica | -5.4 | -5.6 | -4.3 | -2.0 | - |
Dominican Republic | -7.6 | -2.5 | -2.7 | -3.1 | -3.2 |
DR Congo | -3.2 | -1.4 | -0.9 | -1.7 | - |
Ecuador | -7.4 | -1.6 | 0.0 | -3.6 | - |
Egypt | -7.5 | -7.1 | -6.2 | -6.1 | -3.7 |
El Salvador | -10.3 | -5.9 | -2.8 | -2.3 | -3.3 |
Equatorial Guinea | -0.4 | 3.7 | 12.7 | 3.5 | - |
Estonia | -5.4 | -2.6 | -1.1 | -3.1 | -1.5 |
Ethiopia | -2.8 | -4.2 | -2.6 | - | - |
Euro Area | -7.0 | -5.1 | -3.5 | -3.5 | -3.1 |
Fiji | -4.8 | -9.7 | -8.5 | -3.3 | 0.5 |
Finland | -5.5 | -2.7 | -0.2 | -3.0 | -4.4 |
France | -8.9 | -6.6 | -4.7 | -5.4 | -5.8 |
Gabon | 1.2 | 0.9 | 1.7 | 4.8 | - |
Gambia, The | 0.8 | -1.8 | -2.8 | -1.5 | - |
Georgia | -9.2 | -6.0 | -2.2 | -2.3 | -2.3 |
Germany | -4.4 | -3.2 | -2.1 | -2.5 | -2.8 |
Ghana | -17.4 | -12.0 | -11.8 | -3.4 | -7.7 |
Greece | -9.6 | -7.1 | -2.5 | -1.4 | 1.3 |
Grenada | -2.6 | 2.1 | 2.5 | 9.5 | - |
Guatemala | -4.9 | -1.2 | -1.7 | -1.3 | - |
Guinea | -2.3 | -1.1 | 0.0 | -1.3 | - |
Guinea-Bissau | -8.1 | -4.3 | -4.7 | -5.5 | -3.9 |
Guyana | -7.3 | -6.5 | -4.8 | -5.4 | - |
Haiti | -2.1 | -2.3 | -1.8 | 0.8 | 6.7 |
Honduras | -7.0 | -5.1 | -1.3 | -3.6 | -1.8 |
Hong Kong | -8.7 | 1.0 | -4.4 | -3.4 | -2.7 |
Hungary | -7.5 | -7.1 | -6.2 | -6.7 | -4.9 |
Iceland | -8.9 | -8.4 | -4.0 | -2.3 | -3.5 |
India | -9.2 | -6.7 | -6.5 | -5.5 | - |
Indonesia | -6.1 | -4.6 | -2.4 | -1.6 | -2.8 |
Iran | -5.2 | -3.2 | -2.8 | -3.8 | -4.1 |
Iraq | -12.8 | -0.4 | 8.1 | -1.1 | - |
Ireland | -4.9 | -1.4 | 1.7 | 1.5 | 4.3 |
Israel | -11.3 | -4.3 | 0.6 | -4.1 | -6.8 |
Italy | -9.4 | -8.9 | -8.1 | -7.2 | -3.4 |
Jamaica | -3.1 | 0.9 | 0.3 | 0.0 | 0.3 |
Japan | -9.1 | -6.1 | -4.2 | -2.3 | - |
Jordan | -7.0 | -6.1 | -4.5 | -5.1 | -5.5 |
Kazakhstan | -4.0 | -3.0 | -2.1 | -2.4 | -2.7 |
Kenya | -8.1 | -7.2 | -6.1 | -5.7 | -5.5 |
Kiribati | 3.8 | -10.6 | -18.1 | 0.3 | - |
Korea | -3.5 | -1.4 | -2.8 | -1.5 | -1.7 |
Kosovo | -7.8 | -1.2 | -0.7 | -0.2 | - |
Kuwait | -31.7 | -6.7 | 11.4 | -3.1 | - |
Kyrgyzstan | -3.1 | -0.7 | -0.3 | 1.6 | 1.9 |
Laos | -5.4 | -0.7 | 0.1 | 0.0 | 2.3 |
Latvia | -4.1 | -7.2 | -4.9 | -2.4 | -1.8 |
Lebanon | -3.5 | 0.8 | - | - | - |
Lesotho | 2.7 | -3.6 | -4.6 | 9.3 | - |
Liberia | -2.7 | -1.6 | -4.4 | -6.1 | - |
Libya | -22.3 | 14.8 | 23.6 | 8.2 | 0.2 |
Lithuania | -6.4 | -1.2 | -0.7 | -0.7 | -1.3 |
Luxembourg | -3.1 | 1.0 | 0.2 | -0.8 | 1.0 |
Macao | -21.4 | -12.9 | -36.9 | - | - |
Madagascar | -3.2 | -2.2 | -4.9 | - | - |
Malawi | -4.8 | -4.3 | -4.6 | -2.9 | - |
Malaysia | -6.2 | -6.4 | -5.6 | -5.1 | -4.1 |
Maldives | -21.1 | -11.6 | -7.5 | -9.4 | - |
Mali | -4.2 | -3.5 | -3.3 | -2.0 | - |
Malta | -8.7 | -7.0 | -5.2 | -4.7 | -3.7 |
Marshall Islands | 2.8 | 0.4 | 0.9 | 0.8 | - |
Mauritania | 3.7 | 3.4 | -2.3 | -1.8 | - |
Mauritius | -6.8 | -1.4 | -0.5 | -1.7 | - |
Mexico | -2.8 | -2.8 | -3.2 | -3.3 | -4.9 |
Micronesia, Federated States of | 6.7 | 4.7 | - | - | - |
Moldova | -5.3 | -2.6 | -3.2 | -5.2 | - |
Mongolia | -9.2 | -3.0 | 0.7 | 2.7 | 1.4 |
Montenegro | -10.2 | -2.0 | -4.2 | 0.1 | -3.1 |
Morocco | -7.1 | -6.0 | -5.4 | -4.4 | -4.3 |
Mozambique | -6.2 | -5.2 | -5.2 | -4.2 | - |
Myanmar | -5.9 | -7.0 | -4.6 | -5.7 | - |
Namibia | -3.9 | -4.4 | -1.9 | 1.8 | - |
Nauru | 42.8 | 44.5 | 23.6 | 19.0 | - |
Nepal | -4.7 | -3.2 | -2.3 | -4.5 | -1.3 |
Netherlands | -3.6 | -2.2 | 0.0 | -0.4 | -0.9 |
New Zealand | -7.3 | -1.3 | -2.7 | -2.4 | - |
Nicaragua | -2.5 | -1.6 | 0.7 | 2.6 | 2.5 |
Niger | -3.8 | -5.0 | -5.5 | -4.0 | -2.5 |
Nigeria | -5.6 | -5.5 | -5.4 | -4.2 | -3.4 |
North Macedonia | -8.0 | -5.3 | -4.4 | -4.6 | -4.4 |
Norway | -2.6 | 10.3 | 25.5 | 16.5 | 13.2 |
Oman | -17.2 | -3.6 | 2.8 | 2.3 | - |
Pakistan | -7.0 | -6.0 | -7.8 | -7.7 | -6.8 |
Palau | -13.0 | -7.5 | -0.6 | -2.8 | - |
Panama | -10.0 | -6.4 | -4.0 | -3.0 | - |
Papua New Guinea | -6.2 | -4.4 | -2.9 | - | - |
Paraguay | -6.1 | -3.6 | -2.9 | -4.1 | -2.6 |
Peru | -8.9 | -2.5 | -1.7 | -2.8 | -3.5 |
Philippines | -7.6 | -8.6 | -7.3 | -6.2 | -5.7 |
Poland | -6.9 | -1.7 | -3.4 | -5.3 | -6.6 |
Portugal | -5.8 | -2.8 | -0.3 | 1.2 | 0.7 |
Qatar | -2.0 | 0.2 | 10.4 | 5.5 | - |
Romania | -9.2 | -7.1 | -6.4 | -6.6 | -9.3 |
Russia | -3.8 | 0.4 | -2.1 | -1.8 | -1.7 |
Rwanda | -9.5 | -7.0 | -5.7 | -5.0 | - |
Saint Kitts and Nevis | -1.7 | 6.6 | -2.9 | 0.9 | - |
Saint Lucia | -7.6 | -1.7 | 1.2 | 0.7 | - |
Saint Vincent and the Grenadines | -4.2 | -4.9 | -7.2 | -10.3 | - |
Samoa | 5.4 | 1.7 | 5.4 | 3.0 | 10.2 |
San Marino | -36.6 | -14.5 | 1.7 | - | - |
Sao Tome and Principe | 3.3 | -1.3 | -1.7 | -1.4 | - |
Saudi Arabia | -10.7 | -2.2 | 2.5 | -2.0 | -2.8 |
Senegal | -9.3 | -11.5 | -12.6 | -12.3 | -11.7 |
Serbia | -7.7 | -3.9 | -3.0 | -2.1 | -2.0 |
Seychelles | -13.2 | -2.9 | 1.3 | 1.6 | - |
Sierra Leone | -1.7 | -2.7 | -4.1 | -2.6 | -2.0 |
Singapore | -10.7 | 0.2 | -0.1 | -0.9 | 0.4 |
Slovakia | -5.3 | -5.1 | -1.7 | -5.2 | -5.3 |
Slovenia | -7.7 | -4.6 | -3.0 | -2.6 | -0.9 |
Solomon Islands | -2.2 | -1.6 | -2.2 | - | - |
South Africa | -9.8 | -5.1 | -4.6 | -4.6 | - |
South Sudan | -4.5 | -9.0 | 3.4 | 8.9 | 5.2 |
Spain | -9.9 | -6.7 | -4.6 | -3.5 | -3.2 |
Sri Lanka | -13.4 | -11.7 | -10.2 | -8.3 | -5.6 |
Sudan | -6.0 | -0.2 | -2.0 | -3.5 | -2.4 |
Suriname | -8.3 | -0.5 | 1.0 | 1.4 | - |
Swaziland | -2.4 | -2.7 | -2.4 | 3.6 | - |
Sweden | -3.2 | -0.2 | 1.0 | -0.8 | -1.5 |
Switzerland | -3.0 | -0.3 | 1.2 | 0.1 | 0.6 |
Taiwan | -1.0 | -0.2 | 0.2 | -0.6 | - |
Tajikistan | -4.3 | -0.7 | -0.2 | -1.3 | -2.5 |
Tanzania | -2.6 | -3.5 | -3.9 | -3.6 | - |
Thailand | -5.2 | -4.8 | -3.5 | -3.3 | -4.1 |
Timor-Leste | -18.8 | -20.0 | -31.4 | -36.9 | - |
Togo | -4.7 | -2.5 | -5.9 | -4.0 | - |
Tonga | 6.0 | -0.5 | -0.2 | 6.8 | - |
Trinidad and Tobago | -11.8 | -8.4 | 1.0 | -1.2 | -5.9 |
Tunisia | -9.7 | -7.8 | -8.0 | -7.7 | - |
Turkey | -3.5 | -2.8 | -1.0 | -5.2 | -4.9 |
Turkmenistan | -0.1 | 0.5 | 2.5 | 0.7 | 0.3 |
Tuvalu | 8.2 | -16.0 | -17.7 | 12.4 | -7.0 |
UAE | -2.5 | 4.0 | 10.0 | 5.9 | 4.8 |
Uganda | -7.8 | -7.4 | -6.0 | -4.9 | - |
Ukraine | -5.3 | -3.4 | -16.1 | -20.4 | -17.6 |
United Kingdom | -13.2 | -7.7 | -4.7 | -6.1 | -5.8 |
United States | -14.7 | -12.1 | -5.4 | -6.2 | -6.3 |
Uruguay | -5.1 | -3.5 | -3.2 | -3.7 | -4.1 |
Uzbekistan | -2.9 | -4.1 | -3.7 | -4.0 | -2.3 |
Vanuatu | -1.1 | 3.3 | -5.7 | -2.5 | - |
Venezuela | -6.6 | -5.8 | -5.3 | -1.2 | -3.6 |
Vietnam | -2.9 | -1.4 | 0.7 | -2.5 | - |
Yemen | -4.3 | -0.9 | -2.2 | -5.6 | -2.5 |
Zambia | -13.8 | -8.1 | -7.8 | - | - |
Zimbabwe | -0.5 | -3.2 | -4.9 | -5.3 | -2.1 |