Kiribati: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Kiribati |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -22.00 |
| Year | 2024 |
| Measure | percent |
| Data availability | 1990 - 2024 |
| Average | -0.38 |
| Min - Max | -22.00 - 42.52 |
| Source | The World Bank |
The latest value from 2024 is -22 percent, a decline from 0.13 percent in 2023. In comparison, the world average is -2.69 percent, based on data from 185 countries. Historically, the average for Kiribati from 1990 to 2024 is -0.38 percent. The minimum value, -22 percent, was reached in 2024 while the maximum of 42.52 percent was recorded in 2015.
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Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. The value is expressed as percent of GDP to relate it to the size of the economy. The source for these data is: Kose, M. Ayhan, Sergio Kurlat, Franziska Ohnsorge, and Naotaka Sugawara. 2022. "A Cross-Country Database of Fiscal Space." Journal of International Money and Finance 128 (November): 102682.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 55.91 | 2023 | percent |
| Government spending, in dollars | 0.20 | 2024 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -22.00 | 2024 | percent |
| Primary budget balance | -21.86 | 2024 | percent |
| Tax revenue | 17.53 | 2023 | percent |
| Commercial tax rate | 32.70 | 2019 | percent |
| Tax preparation time | 168 | 2019 | hours |
| Taxes on goods and services | 11.75 | 2023 | percent |
| Taxes on international trade | 0.46 | 2023 | percent |
| Income and profits taxes | 7.42 | 2023 | percent |
| Foreign aid | 98.32 | 2023 | million U.S. dollars |
| Government debt | 9.92 | 2024 | percent |