Fiscal Balance/Government Structural Balance (% of potential GDP)


What is it?

The structural or underlying fiscal balance is the difference between government revenues and expenditures adjusted for effects attributed to the economic cycle and one-off events. This identifies trends to assess whether the fiscal policy of a country is expansionary, neutral or restrictive.


The data

Country
2010
2011
2012
2013
2014
2015
2016
2017
2018
Afghanistan
30.269
26.407
25.340
23.093
17.460
18.481
18.533
17.717
17.076
Albania
31.318
33.462
29.824
27.618
27.347
26.075
24.986
23.505
22.861
Algeria
42.328
38.572
41.301
44.978
47.511
52.857
53.949
50.929
48.876
Angola
32.477
31.518
27.736
24.732
22.409
34.719
25.272
19.743
22.431
Antigua and Barbuda
24.523
24.047
24.476
24.665
25.025
Argentina
16.822
14.575
12.888
13.150
13.115
10.523
12.140
11.963
17.029
Armenia
25.969
26.720
20.190
19.201
20.825
21.161
19.727
20.662
21.608
Australia
21.460
22.630
25.206
24.560
23.891
23.508
22.460
22.948
23.198
Austria
18.782
21.171
21.893
21.973
23.203
24.390
23.552
24.583
24.921
Azerbaijan
18.060
20.268
22.317
25.658
27.510
27.914
25.682
24.148
26.426
Bahamas
27.466
29.986
31.345
29.744
34.826
25.948
25.554
27.129
26.669
Bahrain
27.286
22.403
28.146
25.941
26.845
26.528
29.705
33.315
31.450
Bangladesh
26.874
27.871
28.330
28.489
28.742
29.295
30.110
30.896
31.599
Barbados
6.319
11.847
8.323
6.559
9.210
7.822
10.620
6.660
11.107
Belarus
36.509
33.612
34.929
37.345
34.011
26.560
26.252
28.338
30.849
Belgium
18.878
19.855
19.626
19.136
20.558
21.398
21.865
23.197
22.822
Belize
13.427
15.909
15.020
15.292
18.368
22.412
19.199
17.648
19.867
Benin
23.132
24.135
22.555
27.814
28.574
25.582
20.997
25.522
25.450
Bhutan
66.906
73.002
72.566
48.646
61.384
60.360
62.668
63.120
63.706
Bolivia
17.892
21.039
18.076
19.565
21.279
20.487
21.118
22.059
21.919
Bosnia and Herzegovina
11.361
15.711
16.874
16.381
16.452
16.791
16.886
18.097
18.217
Botswana
41.412
38.575
38.840
29.409
28.199
32.603
28.570
28.246
26.751
Brazil
17.611
17.939
17.721
17.205
13.946
7.623
7.503
8.501
9.740
Brunei Darussalam
41.711
34.319
35.398
39.594
27.442
35.247
34.620
34.805
32.760
Bulgaria
19.060
19.594
21.834
19.934
18.534
18.805
20.841
20.843
19.295
Burkina Faso
18.041
15.429
14.915
18.708
21.480
13.776
16.453
17.329
16.566
Burundi
15.086
14.723
14.291
15.355
15.855
11.000
9.000
7.000
6.000
Côte d'Ivoire
13.437
4.039
16.090
20.711
19.740
20.104
17.689
19.494
21.596
Cabo Verde
47.647
47.509
37.194
31.630
37.004
38.752
37.147
38.164
34.941
Cambodia
17.368
22.000
23.500
23.500
23.200
22.400
22.900
22.200
22.000
Cameroon
27.995
27.950
27.879
28.318
29.318
27.684
28.370
28.126
30.116
Canada
19.663
21.080
22.931
24.048
25.171
24.796
23.674
23.633
22.841
Central African Republic
14.266
12.182
14.973
8.691
17.481
13.923
13.700
13.832
15.938
Chad
34.388
28.420
31.400
27.374
30.387
26.905
16.702
21.114
23.867
Chile
21.275
23.661
26.034
25.202
22.781
24.243
21.311
19.602
21.195
China
47.478
47.938
47.087
46.762
46.308
42.288
40.571
40.706
39.387
China, Hong Kong SAR
24.575
22.512
24.085
19.759
22.628
18.214
20.216
19.782
18.010
China, Macao SAR
13.302
13.824
14.701
14.057
19.615
25.125
21.618
18.967
15.790
Colombia
18.598
19.410
20.644
19.985
20.865
20.236
21.998
21.442
19.805
Comoros
15.403
14.899
16.820
20.358
18.548
18.623
21.116
21.528
22.439
Congo
22.382
25.880
32.190
34.447
49.884
57.334
50.884
29.635
18.290
Costa Rica
14.596
15.750
15.789
13.474
12.980
12.831
12.989
12.491
11.440
Croatia
17.347
16.388
15.786
16.374
15.920
17.867
20.473
21.733
21.699
Cyprus
18.270
13.685
11.670
11.516
13.127
16.187
17.782
22.063
20.455
Czechia
23.018
24.084
24.844
25.047
25.153
27.520
26.899
27.026
27.479
Dem. Rep. of the Congo
13.750
10.093
14.249
16.787
22.831
20.197
11.772
11.997
12.450
Denmark
16.871
18.432
16.947
17.605
21.486
21.579
21.148
21.439
22.647
Djibouti
21.259
24.669
26.364
41.297
34.919
50.828
47.521
36.152
33.875
Dominica
30.557
23.465
18.908
15.960
14.781
16.190
19.190
26.198
34.542
Dominican Republic
23.071
21.755
17.542
18.880
19.513
18.971
18.690
18.352
20.866
Ecuador
26.919
27.562
26.095
22.674
21.956
20.156
18.196
22.260
23.764
Egypt
12.713
7.442
6.069
1.173
2.291
2.802
2.918
4.593
7.006
El Salvador
12.079
13.267
13.204
12.343
12.363
12.377
12.817
13.791
17.429
Equatorial Guinea
38.056
32.049
41.148
30.308
28.709
24.701
16.699
12.609
10.321
Eritrea
9.299
9.994
9.498
9.317
8.483
8.121
8.107
7.827
7.163
Estonia
22.420
25.825
30.168
27.586
28.110
26.122
25.377
25.914
26.902
Eswatini
14.485
12.899
12.255
12.106
12.316
11.441
12.054
11.698
11.201
Ethiopia
25.524
32.108
37.098
34.081
37.982
39.417
37.999
39.000
39.054
Fiji
18.738
20.999
17.272
27.634
19.169
21.109
19.256
19.551
20.434
Finland
19.770
21.959
20.822
20.194
19.968
20.850
22.036
22.619
22.181
France
15.736
18.026
18.126
18.837
19.396
19.704
19.894
20.853
20.247
Gabon
26.105
23.832
29.115
33.260
35.926
34.817
34.175
30.475
30.404
Gambia
13.134
13.006
18.246
14.040
14.571
13.442
13.011
19.934
19.809
Georgia
20.607
22.821
25.738
21.798
26.269
27.602
29.551
29.553
31.758
Germany
17.219
19.728
19.160
19.666
20.531
19.999
20.612
20.984
22.492
Ghana
51.159
24.714
33.170
26.457
29.349
29.814
27.595
22.003
21.767
Greece
8.160
10.686
14.701
16.389
14.710
13.203
17.075
17.295
16.537
Grenada
-3.177
-4.978
-5.070
-6.268
13.624
16.150
22.246
21.354
23.232
Guatemala
10.826
12.851
12.487
11.817
11.753
12.094
11.756
10.766
10.844
Guinea
5.462
9.089
14.721
11.584
6.386
7.256
24.764
11.935
19.570
Guinea-Bissau
10.785
9.935
6.699
7.224
11.417
8.610
8.808
9.001
10.893
Guyana
12.579
12.858
12.124
11.786
11.682
15.086
12.061
13.314
13.116
Haiti
25.407
27.856
29.545
30.025
30.938
32.399
30.486
28.977
29.007
Honduras
21.880
26.000
24.564
21.760
22.184
25.118
23.377
24.161
25.525
Hungary
16.453
16.158
19.657
20.479
21.586
21.333
18.716
20.207
24.026
Iceland
9.621
11.331
13.687
13.516
15.809
16.967
21.034
20.080
22.192
India
27.470
30.978
30.873
27.202
27.354
24.928
22.914
24.196
24.980
Indonesia
31.429
32.010
33.137
31.284
32.258
31.398
31.395
31.294
32.775
Iran (Islamic Republic of)
40.710
38.606
41.528
41.220
40.399
34.911
33.534
35.704
38.326
Ireland
7.520
10.468
14.614
14.112
18.907
23.037
36.549
24.304
24.109
Israel
14.807
16.905
16.882
15.812
17.503
18.980
19.052
18.664
18.825
Italy
16.826
16.369
16.335
16.382
15.927
16.627
16.218
16.002
16.244
Jamaica
20.207
21.470
19.933
21.262
22.476
21.257
21.289
20.833
19.956
Japan
13.274
14.121
15.062
15.707
18.424
19.708
19.264
20.527
21.327
Jordan
22.776
22.146
18.237
17.328
19.124
15.603
15.399
16.248
14.819
Kazakhstan
27.173
28.649
29.471
29.003
28.321
21.580
22.885
22.436
26.775
Kenya
20.735
21.703
21.476
20.106
22.432
21.466
16.199
16.208
17.162
Korea, Republic of
33.528
34.609
32.725
29.985
29.886
29.691
31.214
33.559
33.107
Kuwait
17.659
13.548
12.835
14.351
16.290
25.428
29.959
29.073
23.557
Kyrgyz Republic
27.054
25.165
34.623
33.542
31.283
31.689
24.906
25.007
26.945
Latvia
14.031
22.301
25.769
22.872
21.537
20.870
20.811
21.308
22.836
Lebanon
-12.597
-12.148
-17.255
-13.875
-13.581
-12.119
-11.437
-12.824
-10.540
Lesotho
26.806
25.156
31.398
30.156
30.703
28.654
27.939
23.409
24.107
Libya
41.592
13.480
16.334
29.929
53.459
77.163
68.889
43.268
33.395
Lithuania
13.536
17.555
17.033
17.862
18.186
20.388
18.429
18.490
19.495
Luxembourg
17.357
19.742
20.555
20.388
21.102
19.902
20.390
20.552
19.615
Madagascar
23.424
17.638
17.561
15.861
15.580
16.808
18.551
18.879
19.719
Malawi
22.823
12.425
12.049
12.702
11.986
12.166
10.665
13.355
10.852
Malaysia
19.324
20.274
22.601
22.932
22.548
22.363
23.150
22.978
19.128
Maldives
20.000
20.000
20.000
20.000
20.000
20.000
20.000
20.000
20.000
Mali
24.026
19.723
17.183
19.323
20.160
20.761
22.709
22.070
18.895
Malta
19.979
16.752
14.650
17.703
16.208
23.355
25.006
22.700
19.458
Mauritania
39.193
43.429
58.826
56.021
52.196
38.808
39.904
37.348
40.698
Mauritius
26.850
24.384
25.228
21.428
18.085
16.782
17.071
17.822
17.904
Mexico
19.085
19.369
19.399
18.313
17.158
18.771
19.713
20.567
20.527
Mongolia
42.087
58.151
55.899
53.276
35.175
26.413
25.735
34.551
42.235
Montenegro
21.770
19.329
20.586
19.606
20.221
20.095
26.095
30.223
33.901
Morocco
29.805
28.877
27.330
28.792
26.214
26.160
27.823
28.394
29.238
Mozambique
18.295
25.667
47.382
54.469
55.363
45.326
38.118
39.235
49.176
Myanmar
20.140
26.444
30.125
31.469
32.056
33.552
35.552
35.313
37.170
Namibia
22.872
18.909
25.624
21.237
34.847
32.194
23.722
17.617
16.628
Nepal
38.271
37.987
34.497
37.321
41.168
39.057
33.882
45.738
51.756
Netherlands
15.457
15.659
16.003
17.421
17.392
21.646
21.263
21.857
21.648
New Zealand
15.715
15.921
19.804
21.365
22.561
23.313
24.108
23.989
23.935
Nicaragua
24.840
30.983
31.012
30.905
28.879
32.704
30.711
28.987
25.792
Niger
49.524
43.883
39.501
40.176
39.236
42.428
38.352
39.951
40.220
Nigeria
17.291
16.212
14.908
14.904
15.803
15.490
15.367
15.474
13.698
Norway
20.774
21.918
22.118
23.171
22.601
21.196
21.435
20.761
20.775
Oman
26.128
24.488
24.390
26.596
20.311
30.167
29.343
31.348
31.500
Pakistan
15.805
14.121
15.076
14.957
14.635
15.707
15.686
16.094
16.424
Palau
24.673
28.432
26.154
22.278
28.337
24.189
26.413
28.462
28.796
Panama
35.624
41.266
42.293
42.674
43.313
42.673
42.779
41.790
42.732
Paraguay
24.057
25.907
20.238
21.279
21.747
18.989
19.439
20.262
20.940
Peru
24.286
25.518
25.337
25.689
24.457
22.206
20.336
18.771
19.924
Philippines
18.039
20.488
17.878
20.111
21.178
21.843
24.017
24.769
26.021
Poland
14.286
17.178
17.469
15.467
17.184
18.036
17.378
17.932
18.936
Portugal
12.778
12.463
12.988
12.753
14.711
14.540
14.626
16.334
17.680
Republic of Moldova
23.601
24.049
24.199
24.938
26.219
23.595
21.982
22.778
21.924
Romania
21.472
25.181
25.490
24.300
24.714
24.971
21.429
19.762
19.757
Russian Federation
17.304
25.761
24.632
21.675
22.159
18.745
19.959
22.712
25.866
Rwanda
22.958
23.454
25.790
26.517
25.302
26.458
25.884
23.839
24.347
Saint Kitts and Nevis
23.811
24.534
30.000
30.000
30.000
Saint Lucia
17.389
18.325
20.688
21.662
22.548
Saint Vincent and the Grenadines
24.999
25.327
26.082
26.862
16.925
San Marino
19.613
15.458
18.639
19.615
16.102
12.086
15.769
19.119
19.802
Sao Tome and Principe
55.894
44.646
35.596
28.242
25.160
32.268
27.531
26.882
21.206
Saudi Arabia
30.926
26.971
26.542
26.470
28.751
35.127
30.933
28.862
25.882
Senegal
19.087
20.194
24.965
24.742
25.931
26.092
25.312
27.546
26.257
Serbia
13.474
13.492
13.488
11.891
11.531
15.566
16.705
20.522
23.716
Seychelles
36.622
35.407
38.106
38.457
37.693
33.788
30.221
28.947
26.447
Sierra Leone
31.089
41.930
27.858
12.726
13.140
13.813
12.271
18.780
17.466
Singapore
34.769
35.583
37.613
36.945
35.457
30.149
31.312
34.107
30.788
Slovakia
17.949
21.502
17.745
19.430
19.625
21.644
20.238
21.290
22.397
Slovenia
17.451
17.432
16.698
18.081
17.329
18.458
18.453
20.705
21.696
Solomon Islands
45.513
31.483
17.911
22.009
14.850
17.503
19.112
17.287
17.035
South Africa
15.765
15.983
15.787
17.010
16.390
16.764
15.367
15.061
14.247
South Sudan
5.492
10.734
12.844
20.587
14.575
18.075
8.979
5.849
Spain
15.086
14.501
16.730
16.425
17.588
17.964
17.572
18.503
19.243
Sri Lanka
30.352
33.364
39.056
33.249
32.310
31.181
34.979
36.450
36.702
Suriname
-2.891
-2.794
-5.489
-8.552
-10.051
-9.766
-6.942
-6.957
-6.651
Sweden
23.447
23.752
22.124
21.850
22.616
23.937
25.211
26.776
26.789
Switzerland
24.213
27.415
24.875
22.242
22.899
23.738
23.384
24.387
24.206
Syrian Arab Republic
26.688
Taiwan
19.637
19.324
18.123
18.872
18.907
19.216
18.713
18.310
19.421
Tajikistan
17.706
21.305
17.929
15.320
15.770
17.822
20.605
23.551
19.506
Thailand
23.927
26.804
27.373
27.748
23.512
22.901
20.256
22.105
24.811
Timor-Leste
11.959
14.564
11.397
11.400
16.446
19.070
26.244
16.771
29.824
Togo
21.584
25.717
23.313
29.584
27.916
32.223
26.544
27.733
28.173
Tunisia
24.366
19.737
18.455
16.183
18.313
14.745
12.405
14.198
15.966
Turkey
24.512
28.521
25.838
26.810
26.913
24.900
24.925
25.929
23.519
Uganda
26.734
28.683
28.322
27.536
25.658
25.399
24.166
25.140
26.520
Ukraine
18.147
19.279
17.222
13.661
10.371
15.516
19.756
18.793
21.251
United Arab Emirates
27.082
23.358
22.019
19.800
21.792
25.764
27.143
21.590
22.648
United Kingdom
8.555
9.840
9.931
12.302
12.663
13.275
14.466
15.340
15.763
United Republic of Tanzania
27.296
33.240
34.845
37.471
37.653
32.757
32.174
34.017
34.590
United States of America
9.490
11.212
13.923
16.402
17.364
17.876
16.372
16.573
16.413
Uruguay
16.975
18.652
20.295
18.732
16.843
15.577
13.780
11.760
11.675
Uzbekistan
25.489
26.392
31.084
30.295
30.135
26.852
25.336
31.850
41.015
Vanuatu
34.660
27.497
23.045
25.920
26.431
33.680
25.570
27.862
30.512
Venezuela (Bolivarian Rep. of)
21.972
23.072
26.597
27.269
24.810
30.868
0.102
-3.744
7.063
Vietnam
35.694
29.751
27.243
26.676
26.833
27.581
26.578
26.582
26.567
Yemen
11.661
5.501
8.704
8.106
7.832
1.642
1.402
2.084
5.087
Zambia
29.878
33.644
31.755
34.039
34.043
42.791
38.206
41.003
42.163
Zimbabwe
18.763
17.398
9.857
9.209
9.639
10.133
12.050
12.455
6.802

Source: World Economic Outlook Database, April 2019