For 2020, the coronavirus outbreak has increased expenditures and caused the projected overall fiscal balance of the advanced economy nations to come to a deficit of 16.6 percent of the collective GDP. Measuring the balance as a percent of GDP shows a nations ability to meet its financial needs. A negative value shows that a country's expenditures will outnumber its revenues, creating a deficit. The 2020 deficit projection for advanced economies is the highest of any economic category, despite having the lowest deficit value for 2019 at 3.3 percent of GDP.
Government fiscal balance as a share of GDP worldwide due to coronavirus from 2018 to 2021, by economic group
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IMF. (June 24, 2020). Government fiscal balance as a share of GDP worldwide due to coronavirus from 2018 to 2021, by economic group [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1135620/global-fiscal-balance-after-coronavirus-by-economic-group/
IMF. "Government fiscal balance as a share of GDP worldwide due to coronavirus from 2018 to 2021, by economic group." Chart. June 24, 2020. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1135620/global-fiscal-balance-after-coronavirus-by-economic-group/
IMF. (2020). Government fiscal balance as a share of GDP worldwide due to coronavirus from 2018 to 2021, by economic group. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1135620/global-fiscal-balance-after-coronavirus-by-economic-group/
IMF. "Government Fiscal Balance as a Share of Gdp Worldwide Due to Coronavirus from 2018 to 2021, by Economic Group." Statista, Statista Inc., 24 Jun 2020, https://www.statista.com/statistics/1135620/global-fiscal-balance-after-coronavirus-by-economic-group/
IMF, Government fiscal balance as a share of GDP worldwide due to coronavirus from 2018 to 2021, by economic group Statista, https://www.statista.com/statistics/1135620/global-fiscal-balance-after-coronavirus-by-economic-group/ (last visited November 21, 2024)
Government fiscal balance as a share of GDP worldwide due to coronavirus from 2018 to 2021, by economic group [Graph], IMF, June 24, 2020. [Online]. Available: https://www.statista.com/statistics/1135620/global-fiscal-balance-after-coronavirus-by-economic-group/
