Venezuela's budget balance in relation to GDP 2023

The budget balance in relation to the GDP in Venezuela increased by 2.6 percentage points in 2023 in comparison to the previous year. Therefore, the budget balance in Venezuela reached a peak in 2023 with -4.22 percent. 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 statistics on other topics about Venezuela with key insights such as the growth of the real the gross domestic product, the gross domestic product per capita, and the average inflation rate.