Key data points
Last release
—
Observation period
2025
Next release
—
Forecast
—
Highest
4.50 % OF GDPon Dec 31, 1948
Lowest
−14.70 % OF GDPon Dec 31, 2020
Details
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.