Guinea: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Guinea |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -1.60 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1990 - 2023 |
| Average | -2.54 |
| Min - Max | -9.65 - 1.26 |
| Source | African Development Bank |
The latest value from 2023 is -1.6 percent, a decline from -0.8 percent in 2022. In comparison, the world average is -3.18 percent, based on data from 123 countries. Historically, the average for Guinea from 1990 to 2023 is -2.54 percent. The minimum value, -9.65 percent, was reached in 2010 while the maximum of 1.26 percent was recorded in 2007.
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Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.
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What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 16.59 | 2022 | percent |
| Government spending, in dollars | 2.89 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -1.60 | 2023 | percent |
| Government debt | 40.31 | 2023 | percent |
| Tax revenue | 10.84 | 1992 | percent |
| Commercial tax rate | 69.30 | 2019 | percent |
| Tax preparation time | 400 | 2019 | hours |
| Number of taxes | 33 | 2019 | taxes |
| Taxes on goods and services | 20.48 | 1992 | percent |
| Taxes on international trade | 35.79 | 1992 | percent |
| Income and profits taxes | 10.99 | 1992 | percent |
| Foreign aid | 586.66 | 2021 | million U.S. dollars |