Micronesia: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Micronesia |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | 4.46 |
| Year | 2021 |
| Measure | percent |
| Data availability | 1995 - 2021 |
| Average | 2.58 |
| Min - Max | -15.61 - 24.85 |
| Source | International Monetary Fund (IMF) |
The latest value from 2021 is 4.46 percent, a decline from 6.44 percent in 2020. In comparison, the world average is -3.95 percent, based on data from 175 countries. Historically, the average for Micronesia from 1995 to 2021 is 2.58 percent. The minimum value, -15.61 percent, was reached in 2004 while the maximum of 24.85 percent was recorded in 2018.
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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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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 | 58.31 | 1983 | percent |
| Government spending, in dollars | 0.06 | 1983 | billion U.S. dollars |
| Fiscal balance, percent of GDP | 4.46 | 2021 | percent |
| Government debt | 17.03 | 2021 | percent |
| Tax revenue | 6.43 | 2020 | percent |
| Commercial tax rate | 60.50 | 2019 | percent |
| Tax preparation time | 128 | 2019 | hours |
| Number of taxes | 21 | 2019 | taxes |
| Taxes on goods and services | 3.40 | 2020 | percent |
| Taxes on international trade | 4.50 | 2020 | percent |
| Income and profits taxes | 10.94 | 2020 | percent |
| Foreign aid | 130.76 | 2021 | million U.S. dollars |