Government budget balance % of GDP
In 2025, Tuvalu had the highest value: 25.8%.
Definition. General government net lending or borrowing as a share of GDP; a negative figure is a deficit. How we measure
Source: IMF World Economic Outlook, October 20262025Updated 6 Nov 2026
Countries and territories with data, ranked
| 1 | Tuvalu | 25.8% | 2025 |
|---|---|---|---|
| 2 | Kuwait | 24.5% | 2025Estimate |
| 3 | Norway | 10.6% | 2025 |
| 4 | Macao | 8.3% | 2025Estimate |
| 5 | Vanuatu | 6.2% | 2025 |
| 6 | Lesotho | 4.9% | 2025 |
| 7 | Marshall Islands | 4.8% | 2025Estimate |
| 8 | Samoa | 4.7% | 2025 |
| 9 | Singapore | 4.2% | 2025Estimate |
| 10 | Aruba | 4.0% | 2025Estimate |
| 11 | United Arab Emirates | 3.9% | 2025 |
| 12 | Andorra | 3.6% | 2025 |
| 13 | Nauru | 3.5% | 2025Estimate |
| 14 | Nicaragua | 3.5% | 2025 |
| 15 | Cyprus | 3.4% | 2025 |
| 16 | South Sudan | 3.3% | 2025 |
| 17 | Lebanon | 3.3% | 2025Estimate |
| 18 | Antigua and Barbuda | 3.2% | 2025 |
| 19 | Denmark | 2.9% | 2025 |
| 20 | Liechtenstein | 2.8% | 2025Estimate |
| 21 | Kyrgyzstan | 2.6% | 2025 |
| 22 | Azerbaijan | 2.6% | 2025 |
| 23 | Mongolia | 2.2% | 2025 |
| 24 | Laos | 1.9% | 2025 |
| 25 | Ireland | 1.9% | 2025 |
| 26 | Greece | 1.7% | 2025 |
| 27 | Tonga | 1.2% | 2025Estimate |
| 28 | Cabo Verde | 1.1% | 2025Estimate |
| 29 | Republic of the Congo | 0.7% | 2025 |
| 30 | Portugal | 0.7% | 2025 |
| 31 | San Marino | 0.6% | 2025Estimate |
| 32 | Oman | 0.6% | 2025 |
| 33 | Tajikistan | 0.5% | 2025 |
| 34 | Micronesia | 0.4% | 2025Estimate |
| 35 | Taiwan | 0.3% | 2025 |
| 36 | Switzerland | 0.2% | 2025 |
| 37 | Zimbabwe | 0.1% | 2025 |
| 38 | Belarus | 0.1% | 2025 |
| 38 | Turkmenistan | 0.1% | 2025 |
| 40 | Vietnam | 0.0% | 2025 |
| 41 | Argentina | −0.2% | 2025 |
| 42 | Barbados | −0.2% | 2025 |
| 43 | Chad | −0.3% | 2025 |
| 44 | Somalia | −0.3% | 2025 |
| 45 | Haiti | −0.3% | 2025Estimate |
| 46 | Mauritania | −0.3% | 2025 |
| 47 | Puerto Rico | −0.4% | 2025Estimate |
| 48 | Palau | −0.4% | 2025Estimate |
| 49 | Dominica | −0.5% | 2025 |
| 50 | Bahamas | −0.5% | 2025Estimate |
| 51 | Afghanistan | −0.5% | 2025 |
| 52 | Palestine | −0.6% | 2025 |
| 53 | Equatorial Guinea | −0.6% | 2025Estimate |
| 54 | Japan | −0.7% | 2025Estimate |
| 55 | Kosovo | −0.7% | 2025 |
| 56 | Honduras | −0.7% | 2025 |
| 57 | Qatar | −1.0% | 2025 |
| 58 | Seychelles | −1.0% | 2025 |
| 59 | Cambodia | −1.0% | 2025 |
| 60 | Belize | −1.0% | 2025 |
| 61 | Ethiopia | −1.2% | 2025Estimate |
| 62 | Sweden | −1.3% | 2025 |
| 63 | Comoros | −1.3% | 2025 |
| 64 | Ghana | −1.3% | 2025 |
| 65 | Djibouti | −1.4% | 2025 |
| 66 | Georgia | −1.5% | 2025 |
| 67 | Burkina Faso | −1.5% | 2025 |
| 68 | Mali | −1.5% | 2025 |
| 69 | Netherlands | −1.6% | 2025 |
| 70 | Uzbekistan | −1.6% | 2025 |
| 71 | Paraguay | −1.7% | 2025 |
| 72 | Canada | −1.7% | 2025 |
| 73 | Thailand | −1.7% | 2025Estimate |
| 74 | Nigeria | −1.8% | 2025 |
| 75 | Albania | −1.8% | 2025 |
| 76 | Lithuania | −1.8% | 2025 |
| 77 | Nepal | −1.8% | 2025 |
| 78 | Saint Lucia | −1.9% | 2025 |
| 79 | Guatemala | −1.9% | 2025 |
| 80 | Luxembourg | −2.0% | 2025 |
| 81 | Estonia | −2.0% | 2025 |
| 82 | Cameroon | −2.1% | 2025 |
| 83 | Madagascar | −2.1% | 2025 |
| 84 | Liberia | −2.1% | 2025 |
| 85 | Papua New Guinea | −2.1% | 2025 |
| 86 | Czechia | −2.1% | 2025 |
| 87 | Malta | −2.2% | 2025 |
| 88 | Serbia | −2.2% | 2025 |
| 89 | Sri Lanka | −2.3% | 2025 |
| 90 | South Korea | −2.3% | 2025Estimate |
| 91 | Peru | −2.4% | 2025 |
| 92 | Spain | −2.4% | 2025 |
| 93 | Fiji | −2.4% | 2025Estimate |
| 94 | Democratic Republic of the Congo | −2.4% | 2025Estimate |
| 95 | Bosnia and Herzegovina | −2.5% | 2025 |
| 96 | Slovenia | −2.5% | 2025 |
| 97 | Jamaica | −2.5% | 2025 |
| 98 | Tanzania | −2.6% | 2025Estimate |
| 99 | Iceland | −2.6% | 2025 |
| 100 | Bhutan | −2.7% | 2025Estimate |
| 101 | Benin | −2.7% | 2025 |
| 102 | Türkiye | −2.8% | 2025 |
| 103 | Chile | −2.8% | 2025 |
| 104 | Ecuador | −2.8% | 2025 |
| 105 | El Salvador | −2.9% | 2025 |
| 106 | Australia | −2.9% | 2025 |
| 107 | Niger | −2.9% | 2025 |
| 108 | Germany | −2.9% | 2025 |
| 109 | Indonesia | −2.9% | 2025 |
| 110 | Côte d'Ivoire | −3.0% | 2025 |
| 111 | Croatia | −3.0% | 2025 |
| 112 | Bulgaria | −3.0% | 2025 |
| 113 | Italy | −3.1% | 2025 |
| 114 | Kazakhstan | −3.1% | 2025Estimate |
| 115 | Sudan | −3.1% | 2025Estimate |
| 116 | Bangladesh | −3.1% | 2025 |
| 117 | Burundi | −3.2% | 2025 |
| 118 | Togo | −3.2% | 2025 |
| 119 | Costa Rica | −3.4% | 2025 |
| 120 | Uruguay | −3.4% | 2025 |
| 121 | São Tomé and Príncipe | −3.4% | 2025 |
| 122 | Morocco | −3.5% | 2025 |
| 123 | Malaysia | −3.5% | 2025 |
| 124 | Dominican Republic | −3.6% | 2025 |
| 125 | Maldives | −3.6% | 2025 |
| 126 | Panama | −3.7% | 2025 |
| 127 | Armenia | −3.7% | 2025 |
| 128 | Central African Republic | −3.8% | 2025 |
| 129 | Mauritius | −3.8% | 2025 |
| 130 | Zambia | −3.8% | 2025 |
| 131 | Finland | −3.8% | 2025 |
| 132 | Moldova | −3.9% | 2025 |
| 133 | Russia | −3.9% | 2025 |
| 134 | Solomon Islands | −3.9% | 2025Estimate |
| 134 | Yemen | −3.9% | 2025 |
| 136 | New Zealand | −4.0% | 2025 |
| 137 | North Macedonia | −4.0% | 2025 |
| 138 | Latvia | −4.0% | 2025 |
| 139 | Angola | −4.1% | 2025 |
| 140 | Sierra Leone | −4.2% | 2025 |
| 141 | Austria | −4.2% | 2025Estimate |
| 142 | Montenegro | −4.3% | 2025 |
| 143 | Rwanda | −4.4% | 2025 |
| 144 | Slovakia | −4.5% | 2025 |
| 145 | Philippines | −4.5% | 2025 |
| 146 | Venezuela | −4.5% | 2025Estimate |
| 147 | Hong Kong | −4.5% | 2025 |
| 148 | Hungary | −4.7% | 2025 |
| 149 | Gambia | −4.7% | 2025Estimate |
| 150 | Mexico | −4.9% | 2025 |
| 151 | Myanmar | −4.9% | 2025Estimate |
| 152 | Grenada | −5.0% | 2025 |
| 153 | France | −5.1% | 2025 |
| 154 | Mozambique | −5.1% | 2025Estimate |
| 155 | Israel | −5.2% | 2025 |
| 156 | Belgium | −5.2% | 2025 |
| 157 | United Kingdom | −5.3% | 2025 |
| 157 | Tunisia | −5.3% | 2025 |
| 159 | Iran | −5.3% | 2025Estimate |
| 160 | Pakistan | −5.4% | 2025 |
| 161 | Trinidad and Tobago | −5.4% | 2025Estimate |
| 162 | Guyana | −5.5% | 2025 |
| 163 | South Africa | −5.6% | 2025Estimate |
| 164 | Colombia | −5.8% | 2025 |
| 165 | Saudi Arabia | −5.8% | 2025 |
| 166 | Namibia | −5.9% | 2025 |
| 167 | Botswana | −6.1% | 2025Estimate |
| 168 | Jordan | −6.2% | 2025 |
| 169 | Iraq | −6.2% | 2025 |
| 170 | Guinea | −6.4% | 2025 |
| 171 | Senegal | −6.4% | 2025 |
| 172 | Kenya | −6.5% | 2025 |
| 173 | Egypt | −6.6% | 2025Estimate |
| 174 | Uganda | −6.6% | 2025 |
| 175 | Guinea-Bissau | −6.7% | 2025Estimate |
| 176 | United States | −7.1% | 2025 |
| 177 | Poland | −7.3% | 2025 |
| 178 | India | −7.4% | 2025Estimate |
| 179 | Brazil | −7.4% | 2025 |
| 180 | Romania | −7.6% | 2025 |
| 181 | Eswatini | −7.8% | 2025 |
| 182 | China | −7.9% | 2025 |
| 183 | Suriname | −8.3% | 2025 |
| 184 | Malawi | −10.2% | 2025 |
| 185 | Algeria | −10.5% | 2025 |
| 186 | Bolivia | −11.4% | 2025 |
| 187 | Saint Kitts and Nevis | −11.8% | 2025 |
| 188 | Gabon | −12.1% | 2025 |
| 189 | Saint Vincent and the Grenadines | −13.0% | 2025 |
| 190 | Bahrain | −13.2% | 2025Estimate |
| 191 | Kiribati | −14.5% | 2025Estimate |
| 192 | Ukraine | −17.6% | 2025 |
| 193 | Brunei | −17.7% | 2025 |
| 194 | Libya | −30.5% | 2025 |
| 195 | Timor-Leste | −46.2% | 2025Estimate |
Source: IMF World Economic Outlook, October 20262025Updated 6 Nov 2026
Budget balance, 2025
under −5.2%−5.2%–−3.2%−3.2%–−1.9%−1.9%–0.063%0.063%+
No data
195 of 197 countries and territories reported for 2025. The rest have no figure for that year yet; “Latest available” includes their most recent year, up to two years earlier.
Years after 2025 are projections. For 45 countries, actual figures end earlier; their years up to 2025 are estimates, tagged in the table and dashed in the chart.
Over time
The median country’s value ranged from −6.0% to −1.7% between 2011 and 2025.
The median of reporting countries and the five highest in 2025. Dashed: median.
Source: IMF World Economic Outlook, October 20262011–2025Updated 6 Nov 2026