Fiscal Balance (% of GDP)

Fiscal Balance (% of GDP)

Fiscal balance, sometimes also referred to as 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). 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. 

The table below shows the fiscal balance as a percentage of Gross Domestic Product (GDP) in U.S. dollars (USD) by country for the last five years. 

Looking for forecasts? FocusEconomics Consensus Forecasts cover approx. 30 macro-economic indicators per country for a 5-year forecast period and quarterly forecasts for the most important economic variables. Get Details.

Fiscal Balance Data

2015 2016 2017 2018 2019
Albania-4.1-1.8-2.0-1.6-1.9
Algeria-15.3-13.1-6.6-4.5-5.1
Angola-2.9-4.5-6.32.2-  
Argentina-5.1-5.8-5.9-5.0-3.8
Armenia-4.8-5.5-4.8-1.8-1.0
Australia-2.3-2.4-1.9-0.50.0
Austria-1.0-1.5-0.80.20.7
Azerbaijan-1.2-0.4-1.6-0.4-0.3
Bahrain-13.0-13.6-10.0-6.3-4.7
Bangladesh-4.0-3.4-3.3-4.6-5.2
Belarus1.41.53.04.02.6
Belgium-2.4-2.4-0.7-0.8-1.9
Belize-8.0-3.4-2.8-0.7-1.8
Bolivia-6.9-6.7-7.8-8.1-7.2
Bosnia and Herzegovina0.71.22.62.3-  
Botswana-4.60.7-1.1-4.6-6.2
Brazil-10.2-9.0-7.8-7.1-5.9
Brunei-14.5-21.7-10.6-3.6-10.5
Bulgaria-1.70.11.12.02.1
Cambodia-0.6-0.3-0.80.7-  
Canada-0.1-0.5-0.1-0.4-0.4
Chile-2.1-2.7-2.8-1.7-2.8
China-3.4-3.8-3.7-4.1-4.9
Colombia-3.0-4.0-3.6-3.1-2.5
Costa Rica-5.7-5.2-6.1-5.8-7.0
Croatia-3.3-1.00.80.20.4
Cyprus-1.00.32.0-3.71.7
Czech Republic-0.60.71.50.90.3
DR Congo-  -  -  -  -  
Denmark-1.20.11.80.73.7
Dominican Republic-0.4-2.8-2.9-2.4-2.3
Ecuador-6.1-8.2-4.5-3.1-2.8
Egypt-11.0-12.0-10.7-9.5-8.0
El Salvador-3.3-3.0-2.3-2.5-2.9
Estonia0.1-0.5-0.8-0.6-0.3
Ethiopia-2.3-3.2-3.0-2.5-  
Eurozone-2.0-1.5-1.0-0.5-0.6
Finland-2.4-1.7-0.7-0.9-1.1
France-3.6-3.6-2.9-2.3-3.0
Georgia-1.2-1.5-0.5-0.8-1.8
Germany0.91.21.21.91.4
Ghana-5.3-6.9-5.0-3.8-4.5
Greece-5.60.50.71.01.5
Guatemala-1.5-1.1-1.4-1.9-2.3
Haiti-1.7-3.0-1.7-4.6-  
Honduras-3.0-2.7-2.7-2.1-2.5
Hong Kong0.64.55.62.4-  
Hungary-2.0-1.8-2.5-2.1-2.0
Iceland-0.812.40.60.8-1.0
Indonesia-2.6-2.5-2.6-1.7-2.2
Iran-1.6-1.9-1.8-  -  
Iraq-12.8-13.9-1.67.9-  
Ireland-2.0-0.7-0.30.10.4
Israel-2.1-2.1-2.0-2.9-3.7
Italy-2.6-2.4-2.4-2.2-1.6
Jamaica-0.3-0.20.51.20.2
Japan-3.8-3.7-3.1-2.4-2.8
Jordan-3.4-3.2-2.6-2.4-3.4
Kazakhstan-2.2-1.6-2.7-1.3-1.9
Kenya-8.1-7.7-9.0-7.0-7.6
Korea0.01.01.31.6-0.6
Kosovo-1.6-1.1-1.1-2.6-2.6
Kuwait-13.4-13.9-8.9-3.0-  
Kyrgyzstan-2.5-5.8-3.7-0.6-0.1
Laos-5.6-5.1-5.5-4.7-5.2
Latvia-1.40.2-0.8-0.8-0.2
Lebanon-7.9-9.6-7.0-11.0-10.9
Lithuania-0.30.20.50.60.3
Luxembourg1.31.81.33.12.2
Malaysia-3.2-3.1-2.9-3.7-3.4
Malta-1.01.03.31.90.5
Mexico-3.4-2.5-1.1-2.1-1.6
Moldova-2.2-1.9-0.8-0.9-1.4
Mongolia-5.0-15.3-6.30.0-1.7
Montenegro-8.0-3.4-5.5-3.6-2.9
Morocco-4.2-4.3-3.6-3.7-3.7
Mozambique-6.7-5.5-3.2-7.1-0.2
Myanmar-2.8-3.9-2.7-3.0-3.5
Netherlands-2.00.01.31.41.7
New Zealand0.20.71.51.92.5
Nicaragua-1.6-2.0-2.0-4.0-  
Nigeria-3.2-4.0-5.4-4.3-  
North Macedonia-3.5-2.7-2.7-1.8-2.0
Norway6.04.15.07.86.4
Oman-17.6-21.1-13.9-8.7-9.1
Pakistan-5.3-4.6-5.8-6.6-8.9
Panama-2.3-1.9-1.9-2.9-3.1
Paraguay-1.3-1.1-1.1-1.3-2.8
Peru-1.9-2.3-3.0-2.3-1.6
Philippines-0.9-2.3-2.1-3.1-3.4
Poland-2.6-2.4-1.5-0.2-0.7
Portugal-4.4-1.9-3.0-0.40.2
Puerto Rico-  -  -  -  -  
Qatar-0.7-9.2-6.62.20.9
Romania-0.6-2.6-2.6-2.9-4.3
Russia-2.4-3.5-1.42.61.8
Saudi Arabia-15.8-12.9-9.2-5.9-4.5
Serbia-3.5-1.21.10.6-0.2
Singapore-1.01.42.30.7-0.3
Slovakia-2.7-2.5-1.0-1.0-1.3
Slovenia-2.8-1.90.00.70.5
South Africa-3.7-3.6-4.1-4.0-6.3
Spain-5.2-4.3-3.0-2.5-2.8
Sri Lanka-7.6-5.3-5.5-5.3-6.8
Sweden0.01.01.40.80.5
Switzerland0.60.31.2-  -  
Taiwan0.1-0.3-0.10.0-  
Tajikistan-2.0-9.0-6.0-2.8-2.1
Tanzania-3.2-2.1-1.2-1.9-  
Thailand-2.3-2.6-3.0-2.4-1.8
Trinidad and Tobago-1.7-5.3-8.9-3.6-2.4
Tunisia-4.8-6.1-6.1-4.8-3.5
Turkey-1.0-1.1-1.5-2.0-2.9
Turkmenistan-0.7-2.4-2.8-0.2-  
USA-2.4-3.1-3.4-3.8-4.6
Uganda-3.9-4.1-3.2-3.8-6.7
Ukraine-1.6-2.3-1.4-2.1-2.2
United Arab Emirates-3.4-2.8-2.02.0-  
United Kingdom-4.6-3.3-2.5-2.2-2.1
Uruguay-3.4-3.7-3.5-2.9-3.4
Uzbekistan0.10.00.1-0.2-1.1
Venezuela-15.6-16.8-18.2-  -  
Vietnam-6.1-3.7-1.2-3.5-  
Yemen-10.0-9.2-5.3-6.3-  
Zambia-9.5-6.1-7.7-8.3-  

Download Sample Report

Download

Fiscal Balance Economic News

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Search form