Latvia: Fiscal balance, percent of GDP

The latest value from 2022 is -4.4 percent, an increase from -7.1 percent in 2021. In comparison, the world average is -2.50 percent, based on data from 164 countries. Historically, the average for Latvia from 1995 to 2022 is -2.35 percent. The minimum value, -9.5 percent, was reached in 2009 while the maximum of 1.4 percent was recorded in 1997. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.

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.