In April 2020, projections for the fiscal balance of advanced economic countries showed that the impact of the coronavirus outbreak would cause a deficit equal to 10.7 percent of the cumulative GDP. By June 2020, that deficit was predicted to have increased to 16.6 percent of the 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.
Difference in government fiscal balance projections as a share of GDP worldwide in 2020, by economic group
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IMF. (June 24, 2020). Difference in government fiscal balance projections as a share of GDP worldwide in 2020, by economic group [Graph]. In Statista. Retrieved November 17, 2024, from https://www.statista.com/statistics/1135740/global-fiscal-balance-projections-due-to-coronavirus-by-economic-group/
IMF. "Difference in government fiscal balance projections as a share of GDP worldwide in 2020, by economic group." Chart. June 24, 2020. Statista. Accessed November 17, 2024. https://www.statista.com/statistics/1135740/global-fiscal-balance-projections-due-to-coronavirus-by-economic-group/
IMF. (2020). Difference in government fiscal balance projections as a share of GDP worldwide in 2020, by economic group. Statista. Statista Inc.. Accessed: November 17, 2024. https://www.statista.com/statistics/1135740/global-fiscal-balance-projections-due-to-coronavirus-by-economic-group/
IMF. "Difference in Government Fiscal Balance Projections as a Share of Gdp Worldwide in 2020, by Economic Group." Statista, Statista Inc., 24 Jun 2020, https://www.statista.com/statistics/1135740/global-fiscal-balance-projections-due-to-coronavirus-by-economic-group/
IMF, Difference in government fiscal balance projections as a share of GDP worldwide in 2020, by economic group Statista, https://www.statista.com/statistics/1135740/global-fiscal-balance-projections-due-to-coronavirus-by-economic-group/ (last visited November 17, 2024)
Difference in government fiscal balance projections as a share of GDP worldwide in 2020, by economic group [Graph], IMF, June 24, 2020. [Online]. Available: https://www.statista.com/statistics/1135740/global-fiscal-balance-projections-due-to-coronavirus-by-economic-group/
