Budget balance in relation to the GDP in Venezuela 2001-2023

The budget balance in relation to the GDP in Venezuela increased by 2.6 percentage points in 2023. In total, the budget balance amounted to -4.22 percent in 2023. Nevertheless, the last two years recorded a significantly lower budget balance than the preceding years.
The indicator describes the general government net lending/borrowing which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expense and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

Find more key insights for the budget balance in relation to the GDP in countries like Colombia, Guyana, and Suriname.