Iraq: Fiscal balance, percent of GDP

* indicates monthly or quarterly data series
 Iraq

Fiscal balance, percent of GDP

 Latest value -2.05
 Year 2023
 Measure percent
 Data availability 2004 - 2023
 Average 5.27
 Min - Max -6.43 - 19.21
 Source Central Bank of Iraq
The latest value from 2023 is -2.05 percent, a decline from 10.76 percent in 2022. In comparison, the world average is -2.86 percent, based on data from 142 countries. Historically, the average for Iraq from 2004 to 2023 is 5.27 percent. The minimum value, -6.43 percent, was reached in 2016 while the maximum of 19.21 percent was recorded in 2005. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Iraq - Fiscal balance, percent of GDP - Recent values chart

Historical series
Iraq - Fiscal balance, percent of GDP - historical chart - 2004-2023




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.

Selected articles from our guide:

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 17.72 2021 percent
 Government spending, in dollars 44.88 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -2.05 2023 percent
 Government debt 58.92 2017 percent
 Tax revenue 1.34 2019 percent
 Commercial tax rate 30.80 2019 percent
 Tax preparation time 312 2019 hours
 Number of taxes 15 2019 taxes
 Taxes on goods and services 0.35 2019 percent
 Taxes on international trade 0.89 2019 percent
 Income and profits taxes 1.99 2019 percent
 Foreign aid 1,569.81 2022 million U.S. dollars
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