Laos: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Laos |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -0.64 |
| Year | 2023 |
| Measure | percent |
| Data availability | 2001 - 2023 |
| Average | -2.92 |
| Min - Max | -6.33 - 4.23 |
| Source | Bank of the Lao PDR |
The latest value from 2023 is -0.64 percent, a decline from -0.3 percent in 2022. In comparison, the world average is -2.84 percent, based on data from 141 countries. Historically, the average for Laos from 2001 to 2023 is -2.92 percent. The minimum value, -6.33 percent, was reached in 2013 while the maximum of 4.23 percent was recorded in 2001.
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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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International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 13.97 | 2016 | percent |
| Government spending, in dollars | 2.22 | 2016 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -0.64 | 2023 | percent |
| Government debt | 115.88 | 2023 | percent |
| Tax revenue | 12.11 | 2022 | percent |
| Commercial tax rate | 24.10 | 2019 | percent |
| Tax preparation time | 362 | 2019 | hours |
| Number of taxes | 35 | 2019 | taxes |
| Taxes on goods and services | 53.89 | 2022 | percent |
| Taxes on international trade | 8.08 | 2022 | percent |
| Income and profits taxes | 19.33 | 2022 | percent |
| Foreign aid | 547.74 | 2022 | million U.S. dollars |