Namibia: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
Namibia |
Fiscal balance, percent of GDP |
---|---|
Latest value | -3.80 |
Year | 2023 |
Measure | percent |
Data availability | 2018 - 2023 |
Average | -5.80 |
Min - Max | -8.10 - -3.80 |
Source | African Development Bank |
The latest value from 2023 is -3.8 percent, an increase from -5.1 percent in 2022. In comparison, the world average is -2.80 percent, based on data from 136 countries. Historically, the average for Namibia from 2018 to 2023 is -5.8 percent. The minimum value, -8.1 percent, was reached in 2020 while the maximum of -3.8 percent was recorded in 2023.
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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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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Government spending, percent of GDP | 21.78 | 2023 | percent |
Government spending, in dollars | 2.69 | 2023 | billion U.S. dollars |
Fiscal balance, percent of GDP | -3.80 | 2023 | percent |
Government debt | 67.00 | 2021 | percent |
Tax revenue | 27.17 | 2022 | percent |
Commercial tax rate | 20.70 | 2019 | percent |
Tax preparation time | 302 | 2019 | hours |
Number of taxes | 27 | 2019 | taxes |
Taxes on goods and services | 25.03 | 2022 | percent |
Taxes on international trade | 22.80 | 2022 | percent |
Income and profits taxes | 38.39 | 2022 | percent |
Foreign aid | 325.31 | 2022 | million U.S. dollars |