Venezuela: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Venezuela |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -4.51 |
| Year | 2021 |
| Measure | percent |
| Data availability | 1988 - 2021 |
| Average | -4.79 |
| Min - Max | -31.00 - 7.94 |
| Source | International Monetary Fund (IMF) |
The latest value from 2021 is -4.51 percent, an increase from -5.05 percent in 2020. In comparison, the world average is -3.97 percent, based on data from 175 countries. Historically, the average for Venezuela from 1988 to 2021 is -4.79 percent. The minimum value, -31 percent, was reached in 2018 while the maximum of 7.94 percent was recorded in 1996.
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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.
Selected articles from our guide:
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 | 14.60 | 2014 | percent |
| Government spending, in dollars | 70.44 | 2014 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -4.51 | 2021 | percent |
| Government debt | 133.61 | 2017 | percent |
| Commercial tax rate | 73.30 | 2019 | percent |
| Tax preparation time | 920 | 2019 | hours |
| Number of taxes | 99 | 2019 | taxes |
| Foreign aid | 272.25 | 2022 | million U.S. dollars |