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Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits." [12]
A deficit occurs when a government's expenditures exceed revenues. [ 3 ] [ 1 ] : 79–82 In the list below, government debt is measured for the general government sector because the level of government responsible for programs (for example, health care) differs across countries, and the general government comprises central, state, provincial ...
This is a list of countries by external debt: it is the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods or services, where the public debt is the money or credit owed by any level of government, from central to local, and the private debt the money or credit owed by private households or private corporations based on the country under ...
Contrast that with the federal deficit in fiscal year 2023, which topped $1.7 trillion, an amount larger than Mexico’s total economy (the 12th largest in the world).
The comparison isn’t exactly apples-to-apples, as the government can essentially borrow as much as it wants to pay its obligations, while individual Americans must pay their debt or face bankruptcy.
World map by current account balance (% of GDP), 2023, according to World Bank [1]. This is the list of countries by current account balance, expressed in current U.S. dollars and as percentage of GDP, based on the data published by World Bank, United Nations Conference on Trade and Development and Organisation for Economic Co-operation and Development.
For most other countries the total budget is shown. Although Germany is a federation, the statistics for Germany represent total general government spending. [ 3 ] Similar to Germany, Russia has a federative structure and a three layer budget system, here the total government spending is shown.
BRUSSELS (Reuters) -The European Commission said on Wednesday that France and six other countries should be disciplined for running budget deficits in excess of EU limits, with deadlines for ...