The Government Budget to GDP ratio is a critical fiscal indicator that measures the difference between government revenues and expenditures as a percentage of the country's total economic output. A positive percentage indicates a budget surplus, while a negative percentage signifies a fiscal deficit. This metric is used by investors and credit rating agencies to assess a nation's fiscal discipline and long-term debt sustainability. It provides a standardized way to compare the fiscal health of different economies regardless of their absolute size.
The indicator is calculated by dividing the net fiscal balance (total tax and non-tax revenues minus total government spending) by the nominal Gross Domestic Product (GDP) for a specific period. The result is multiplied by 100 to be expressed as a percentage.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Apr 22, 2026 | -2.90 | -3.20 | +0.30 |
| Apr 22, 2025 | -3.10 | -3.20 | +0.10 |
| Apr 22, 2024 | -3.60 | -3.20 | -0.40 |
| Apr 21, 2023 | -3.60 | -3.50 | -0.10 |
| Apr 22, 2022 | -5.10 | -7.10 | +2.00 |
| Apr 22, 2021 | -7.20 | -8.60 | +1.40 |
| Apr 22, 2020 | -0.60 | -0.80 | +0.20 |
| Apr 23, 2019 | -0.50 | -0.80 | +0.30 |
| Apr 23, 2018 | -0.90 | — | — |
