North Macedonia: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| North Macedonia |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -5.14 |
| Year | 2022 |
| Measure | percent |
| Data availability | 1998 - 2022 |
| Average | -2.50 |
| Min - Max | -8.05 - 2.37 |
| Source | Ministry of Finance of Republic of North Macedonia |
The latest value from 2022 is -5.14 percent, an increase from -5.4 percent in 2021. In comparison, the world average is -2.50 percent, based on data from 164 countries. Historically, the average for North Macedonia from 1998 to 2022 is -2.5 percent. The minimum value, -8.05 percent, was reached in 2020 while the maximum of 2.37 percent was recorded in 2000.
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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 | 16.79 | 2023 | percent |
| Government spending, in dollars | 2.35 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -5.14 | 2022 | percent |
| Government debt | 49.97 | 2023 | percent |
| Government expenditure | 39.19 | Q3/2024 | billion |
| Tax revenue | 17.19 | 2021 | percent |
| Commercial tax rate | 13.00 | 2019 | percent |
| Tax preparation time | 119 | 2019 | hours |
| Number of taxes | 7 | 2019 | taxes |
| Taxes on goods and services | 59.10 | 2021 | percent |
| Taxes on international trade | 5.87 | 2021 | percent |
| Income and profits taxes | 21.71 | 2021 | percent |
| Foreign aid | 224.05 | 2022 | million U.S. dollars |