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 2024.
Fiscal Balance (% of GDP) Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Afghanistan | -0.5 | -1.0 | -1.2 | -0.5 | - |
| Albania | -4.6 | -3.6 | -1.3 | -0.7 | -1.8 |
| Algeria | -6.3 | -3.0 | -5.2 | -9.3 | -12.4 |
| Andorra | -1.2 | 4.8 | 2.1 | 2.8 | 1.7 |
| Angola | 3.4 | 0.6 | -1.8 | -1.0 | -3.0 |
| Antigua and Barbuda | -2.3 | -0.3 | 0.5 | 3.9 | - |
| Argentina | -3.6 | -3.8 | -4.4 | 0.3 | 0.2 |
| Armenia | -4.5 | -2.2 | -1.9 | -3.5 | -5.0 |
| Aruba | -5.2 | 3.7 | 7.0 | 7.9 | 2.8 |
| Australia | -6.4 | -1.4 | 0.9 | 0.6 | -0.4 |
| Austria | -5.7 | -3.4 | -2.6 | -4.7 | -4.4 |
| Azerbaijan | 4.2 | 6.0 | 7.9 | 4.1 | -1.2 |
| Bahamas, The | -8.9 | -1.3 | 0.3 | 2.9 | - |
| Bahrain | -10.6 | -6.0 | -9.7 | -10.1 | -9.0 |
| Bangladesh | -3.6 | -4.5 | -4.4 | -3.7 | -3.8 |
| Barbados | -0.8 | 2.4 | 3.5 | 4.3 | 4.4 |
| Belarus | -0.2 | -2.0 | 0.8 | 1.0 | -1.1 |
| Belgium | -5.4 | -3.6 | -4.0 | -4.4 | -5.2 |
| Belize | -3.3 | -1.0 | -2.4 | -1.2 | -1.3 |
| Benin | -3.5 | -3.9 | -2.5 | -1.3 | -2.9 |
| Bhutan | -4.8 | -5.6 | -3.0 | 1.8 | -0.7 |
| Bolivia | -9.3 | -7.1 | -10.9 | -10.6 | -11.0 |
| Bosnia-Herz. | -0.2 | 0.1 | -1.7 | -1.9 | -1.9 |
| Botswana | -2.3 | 0.0 | -4.3 | -7.8 | -10.1 |
| Brazil | -4.3 | -4.6 | -8.8 | -8.5 | -8.3 |
| Brunei | -8.2 | 2.5 | -10.9 | -10.2 | -11.5 |
| Bulgaria | -4.0 | -2.9 | -2.0 | -3.0 | -3.2 |
| Burkina Faso | -5.7 | -8.9 | -4.5 | -3.6 | -4.1 |
| Burundi | -1.6 | -8.2 | -5.8 | -3.2 | -4.6 |
| Cabo Verde | -5.3 | -2.0 | 1.9 | 1.3 | -0.7 |
| Cambodia | -5.2 | -0.3 | -2.8 | -2.7 | -2.8 |
| Cameroon | -3.0 | -1.1 | -0.6 | -1.5 | -1.5 |
| Canada | -3.1 | 0.6 | 0.1 | -2.0 | -1.8 |
| CdI | -4.9 | -6.7 | -5.2 | -4.0 | -3.1 |
| Central African Republic | -5.5 | -4.8 | -2.9 | -4.2 | 0.4 |
| Chad | -0.6 | 4.8 | -0.1 | -0.9 | -3.9 |
| Chile | -7.7 | 1.1 | -2.4 | -2.9 | -2.8 |
| China | -3.7 | -4.6 | -4.5 | -4.8 | -5.5 |
| Colombia | -7.0 | -5.3 | -4.2 | -6.7 | -7.1 |
| Comoros | -2.5 | -3.7 | -1.0 | -2.6 | -2.0 |
| Congo | 1.6 | 8.9 | 5.8 | 3.6 | 4.1 |
| Costa Rica | -5.0 | -2.4 | -3.3 | -3.8 | -3.2 |
| Croatia | -2.6 | 0.1 | -0.8 | -1.9 | -2.7 |
| Cuba | -11.7 | -11.1 | - | -8.4 | -8.5 |
| Cyprus | -1.6 | 2.7 | 1.7 | 4.1 | 3.7 |
| Czech Republic | -5.0 | -3.1 | -3.7 | -2.0 | -2.1 |
| Denmark | 4.1 | 3.4 | 3.5 | 4.6 | 2.3 |
| Djibouti | -3.1 | -1.5 | -3.5 | -2.6 | -0.4 |
| Dominica | -5.6 | -4.3 | -2.0 | -0.3 | 0.3 |
| Dominican Republic | -2.5 | -2.7 | -3.1 | -3.2 | -3.3 |
| DR Congo | -1.7 | -1.0 | -1.7 | -1.5 | -2.2 |
| Ecuador | -1.6 | 0.0 | -3.5 | -1.3 | -1.7 |
| Egypt | -7.1 | -6.2 | -6.1 | -3.7 | -6.4 |
| El Salvador | -5.9 | -2.8 | -2.3 | -3.3 | -2.5 |
| Equatorial Guinea | 3.7 | 12.7 | 3.5 | 0.7 | -0.2 |
| Estonia | -2.5 | -1.0 | -2.7 | -1.7 | -2.0 |
| Ethiopia | -4.2 | -2.6 | -2.0 | -1.5 | - |
| Euro Area | -5.1 | -3.4 | -3.5 | -3.1 | -3.2 |
| Fiji | -10.1 | -8.6 | -3.3 | 0.5 | 0.4 |
| Finland | -2.7 | -0.2 | -2.9 | -4.4 | -4.1 |
| France | -6.6 | -4.7 | -5.4 | -5.8 | -5.5 |
| Gabon | 0.9 | 1.7 | 4.8 | -3.5 | -5.0 |
| Gambia, The | -1.8 | -2.8 | -1.5 | - | - |
| Georgia | -6.0 | -2.2 | -2.3 | -2.3 | -2.1 |
| Germany | -3.2 | -1.9 | -2.5 | -2.7 | -2.7 |
| Ghana | -12.0 | -11.8 | -3.4 | -7.3 | -3.2 |
| Greece | -7.2 | -2.6 | -1.4 | 1.2 | 1.0 |
| Grenada | 2.1 | 2.6 | 9.4 | 10.0 | -5.2 |
| Guatemala | -1.2 | -1.7 | -1.3 | -1.0 | -2.8 |
| Guinea | -1.2 | -1.3 | -3.1 | -3.8 | -2.4 |
| Guinea-Bissau | -4.3 | -4.7 | -5.5 | -3.9 | -5.6 |
| Guyana | -6.5 | -4.8 | -5.4 | -7.1 | -4.8 |
| Haiti | -2.5 | -1.8 | 0.8 | 7.0 | 0.6 |
| Honduras | -5.1 | -1.3 | -3.6 | -1.8 | -2.9 |
| Hong Kong | 1.0 | -4.4 | -3.4 | -2.7 | -2.0 |
| Hungary | -7.1 | -6.2 | -6.8 | -5.0 | -4.8 |
| Iceland | -8.0 | -3.8 | -2.3 | -3.7 | -1.7 |
| India | -6.7 | -6.5 | -5.5 | -4.8 | -4.5 |
| Indonesia | -4.6 | -2.4 | -1.6 | -2.8 | -2.9 |
| Iran | -3.0 | -2.6 | -2.5 | -3.8 | - |
| Iraq | -0.4 | 8.1 | -1.1 | -4.1 | -7.1 |
| Ireland | -1.3 | 1.6 | 1.4 | 4.0 | 2.0 |
| Israel | -4.3 | 0.6 | -4.1 | -6.8 | -5.0 |
| Italy | -8.9 | -8.1 | -7.2 | -3.4 | -3.1 |
| Jamaica | 0.8 | 0.3 | 0.0 | 0.2 | 0.0 |
| Japan | -6.1 | -4.2 | -2.3 | -2.0 | -2.1 |
| Jordan | -6.1 | -4.5 | -5.1 | -5.5 | -5.1 |
| Kazakhstan | -3.0 | -2.1 | -2.4 | -2.6 | -2.6 |
| Kenya | -7.2 | -6.1 | -5.7 | -5.8 | -5.5 |
| Kiribati | -10.6 | -18.1 | 0.3 | - | - |
| Korea | -1.4 | -2.8 | -1.5 | -1.7 | -2.2 |
| Kosovo | -1.2 | -0.7 | -0.2 | -0.3 | -1.1 |
| Kuwait | -6.7 | 11.4 | -3.1 | -2.1 | -7.2 |
| Kyrgyzstan | -0.7 | -0.3 | 1.6 | 1.9 | -0.2 |
| Laos | -0.7 | 0.1 | 0.0 | 2.3 | 0.1 |
| Latvia | -7.2 | -4.9 | -2.4 | -1.8 | -2.8 |
| Lebanon | 0.8 | 0.0 | 0.0 | -0.1 | -0.5 |
| Lesotho | -3.6 | -4.6 | 9.3 | 10.3 | 4.6 |
| Liberia | -1.6 | -4.4 | -6.1 | -1.0 | -2.1 |
| Libya | 14.8 | 23.6 | 8.2 | -25.1 | -0.5 |
| Lithuania | -1.1 | -0.7 | -0.7 | -1.3 | -2.5 |
| Luxembourg | 1.1 | 0.2 | -0.7 | 0.9 | -0.8 |
| Macao | -12.9 | -37.0 | 0.2 | 5.4 | 4.3 |
| Madagascar | -2.2 | -4.9 | -3.5 | -1.9 | -3.3 |
| Malawi | -4.3 | -4.6 | -2.9 | -4.4 | -9.6 |
| Malaysia | -6.4 | -5.6 | -5.1 | -4.1 | -3.8 |
| Maldives | -11.6 | -7.5 | -9.3 | -9.7 | -8.5 |
| Mali | -3.5 | -3.3 | -2.0 | -2.7 | -3.6 |
| Malta | -7.0 | -5.3 | -4.4 | -3.5 | -3.2 |
| Marshall Islands | 0.4 | 0.9 | 1.3 | 3.8 | 1.9 |
| Mauritania | 3.4 | -2.1 | -1.5 | 0.6 | 1.5 |
| Mauritius | -1.6 | -0.6 | -1.8 | -4.2 | 0.3 |
| Mexico | -2.8 | -3.2 | -3.3 | -5.0 | -4.1 |
| Micronesia, Federated States of | 4.7 | - | - | - | - |
| Moldova | -2.6 | -3.2 | -5.1 | -3.9 | -4.4 |
| Mongolia | -3.0 | 0.7 | 2.7 | 1.4 | -0.7 |
| Montenegro | -2.0 | -4.2 | 0.1 | -3.1 | -3.5 |
| Morocco | -6.0 | -5.4 | -4.4 | -4.3 | -3.9 |
| Mozambique | -5.2 | -5.2 | -4.3 | -6.2 | -4.4 |
| Myanmar | -2.5 | -2.8 | -5.2 | -5.1 | -7.0 |
| Namibia | -4.4 | -1.9 | 1.8 | -3.1 | -4.5 |
| Nauru | 44.5 | 24.3 | 19.4 | 29.8 | 3.6 |
| Nepal | -3.2 | -2.3 | -4.5 | -1.4 | -0.7 |
| Netherlands | -2.3 | 0.0 | -0.4 | -0.9 | -2.0 |
| New Zealand | -1.3 | -2.6 | -2.4 | -3.1 | -3.4 |
| Nicaragua | -1.6 | 0.7 | 2.6 | 2.5 | 1.7 |
| Niger | -5.0 | -5.5 | -4.0 | -2.5 | -3.4 |
| Nigeria | -4.0 | -4.0 | -3.1 | -1.6 | -3.0 |
| North Macedonia | -5.3 | -4.4 | -4.6 | -4.4 | -4.5 |
| Norway | 10.0 | 24.6 | 15.9 | 12.8 | 11.2 |
| Oman | -3.6 | 2.8 | 2.3 | 1.3 | -1.5 |
| Pakistan | -6.0 | -7.8 | -7.8 | -6.8 | -5.3 |
| Palau | -9.9 | -4.0 | 0.7 | 1.7 | - |
| Panama | -6.5 | -4.0 | -3.9 | -7.4 | -4.2 |
| Papua New Guinea | -4.4 | -2.9 | -3.5 | -2.7 | -1.9 |
| Paraguay | -3.6 | -2.9 | -4.1 | -2.6 | -1.9 |
| Peru | -2.5 | -1.7 | -2.7 | -3.4 | -2.4 |
| Philippines | -8.6 | -7.3 | -6.2 | -5.7 | -5.5 |
| Poland | -1.7 | -3.4 | -5.2 | -6.5 | -6.9 |
| Portugal | -2.8 | -0.3 | 1.3 | 0.5 | 0.2 |
| Puerto Rico | -0.3 | 1.8 | 0.3 | -0.5 | -0.4 |
| Qatar | 0.2 | 10.2 | 5.4 | 0.7 | 0.0 |
| Romania | -7.2 | -6.5 | -6.7 | -9.3 | -8.2 |
| Russia | 0.4 | -2.1 | -1.8 | -1.7 | -2.8 |
| Rwanda | -7.0 | -5.7 | -5.0 | -6.6 | -6.3 |
| Saint Kitts and Nevis | 6.6 | -2.9 | 0.9 | -9.8 | -10.5 |
| Saint Lucia | -1.7 | 1.3 | 0.2 | 1.1 | 0.5 |
| Saint Vincent and the Grenadines | -4.9 | -7.2 | -10.3 | -10.1 | - |
| Samoa | 1.7 | 5.0 | 2.7 | 9.3 | 5.0 |
| San Marino | -14.5 | 1.7 | -0.6 | -0.6 | -1.2 |
| Sao Tome and Principe | -1.3 | -1.7 | -1.4 | - | - |
| Saudi Arabia | -2.0 | 2.2 | -1.8 | -2.5 | -4.8 |
| Senegal | -13.7 | -16.1 | -14.8 | -13.4 | -8.4 |
| Serbia | -3.9 | -3.0 | -2.1 | -2.0 | -2.8 |
| Seychelles | -2.9 | 1.3 | 1.6 | 2.3 | 0.1 |
| Sierra Leone | -2.7 | -4.1 | -2.6 | -1.9 | -3.7 |
| Singapore | 0.2 | -0.1 | -0.9 | 0.4 | 0.8 |
| Slovakia | -5.1 | -1.6 | -5.3 | -5.5 | -4.9 |
| Slovenia | -4.6 | -3.0 | -2.6 | -0.9 | -2.1 |
| Solomon Islands | -1.6 | -2.2 | - | - | - |
| Somalia | -0.9 | 0.0 | 0.0 | -0.1 | -0.3 |
| South Africa | -5.1 | -4.6 | -4.5 | -4.9 | -4.9 |
| South Sudan | -9.3 | 4.5 | 8.0 | 11.7 | 3.0 |
| Spain | -6.7 | -4.6 | -3.3 | -3.2 | -2.8 |
| Sri Lanka | -11.7 | -10.2 | -8.3 | -5.6 | -5.7 |
| Sudan | -0.2 | -2.0 | -3.7 | -3.3 | -3.3 |
| Suriname | -0.5 | 1.0 | 1.4 | -2.5 | -6.2 |
| Swaziland | -2.7 | -2.4 | 3.6 | - | - |
| Sweden | -0.2 | 1.0 | -0.9 | -1.6 | -1.4 |
| Switzerland | -0.3 | 1.2 | 0.1 | 0.6 | 0.4 |
| Taiwan | -0.2 | 0.2 | -0.6 | 0.4 | -0.2 |
| Tajikistan | -0.6 | -0.2 | -0.9 | 0.3 | -2.1 |
| Tanzania | -3.5 | -3.9 | -3.7 | -3.0 | -3.0 |
| Thailand | -4.8 | -3.5 | -3.3 | -4.1 | -4.4 |
| Timor-Leste | -20.0 | -29.2 | -34.3 | -43.1 | - |
| Togo | -2.5 | -5.9 | -4.0 | -4.5 | -6.1 |
| Tonga | -0.5 | 0.4 | 6.8 | 4.6 | 6.1 |
| Trinidad and Tobago | -8.4 | 1.0 | -1.2 | -5.3 | -5.2 |
| Tunisia | -7.8 | -7.9 | -7.8 | -6.8 | -5.4 |
| Turkey | -2.7 | -0.9 | -5.1 | -4.7 | -3.7 |
| Turkmenistan | 0.6 | 3.4 | 0.1 | -0.1 | 0.3 |
| Tuvalu | -16.1 | -20.0 | 15.3 | -8.1 | - |
| UAE | 4.0 | 9.8 | 5.8 | 6.4 | 4.7 |
| Uganda | -7.8 | -5.4 | -4.9 | -4.0 | -6.0 |
| Ukraine | -3.4 | -16.1 | -20.1 | -17.6 | -19.4 |
| United Kingdom | -7.5 | -4.6 | -6.1 | -6.0 | -5.4 |
| United States | -12.0 | -5.4 | -6.2 | -6.3 | -5.8 |
| Uruguay | -3.5 | -3.2 | -3.7 | -4.0 | -4.1 |
| Uzbekistan | -4.1 | -3.7 | -4.0 | -2.4 | -2.8 |
| Vanuatu | 2.4 | -6.5 | -0.9 | -2.3 | - |
| Venezuela | -5.8 | -5.3 | -1.2 | -3.6 | - |
| Vietnam | -1.4 | 0.7 | -1.7 | -1.5 | -2.8 |
| West Bank and Gaza | -5.2 | -0.9 | -1.0 | -3.5 | - |
| Yemen | -0.9 | -2.2 | -5.6 | -2.5 | -4.4 |
| Zambia | -8.1 | -7.8 | -5.5 | -3.3 | -4.7 |
| Zimbabwe | -2.2 | -3.3 | -3.9 | -1.1 | 0.5 |