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.
Venezuela: Budget balance between 2013 to 2023 in relation to GDP
Characteristic
Budget balance in relation to GDP
2023*
-4.22%
2022*
-6.84%
2021*
-5.86%
2020*
-6.6%
2019*
-10.93%
2018*
-30.98%
2017
-13.27%
2016
-8.46%
2015
-8.06%
2014
-9.81%
2013
-10.35%
Created with Highcharts 7.2.2Budget balance in relation to GDP-10.35%-10.35%-9.81%-9.81%-8.06%-8.06%-8.46%-8.46%-13.27%-13.27%-30.98%-30.98%-10.93%-10.93%-6.6%-6.6%-5.86%-5.86%-6.84%-6.84%-4.22%-4.22%201320142015201620172018*2019*2020*2021*2022*2023*
-35%-30%-25%-20%-15%-10%-5%0%
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IMF. (October 22, 2024). Venezuela: Budget balance between 2013 to 2023 in relation to GDP [Graph]. In Statista. Retrieved January 04, 2025, from https://www.statista.com/statistics/372041/venezuela-budget-balance-in-relation-to-gdp/
IMF. "Venezuela: Budget balance between 2013 to 2023 in relation to GDP." Chart. October 22, 2024. Statista. Accessed January 04, 2025. https://www.statista.com/statistics/372041/venezuela-budget-balance-in-relation-to-gdp/
IMF. (2024). Venezuela: Budget balance between 2013 to 2023 in relation to GDP. Statista. Statista Inc.. Accessed: January 04, 2025. https://www.statista.com/statistics/372041/venezuela-budget-balance-in-relation-to-gdp/
IMF. "Venezuela: Budget Balance between 2013 to 2023 in Relation to Gdp." Statista, Statista Inc., 22 Oct 2024, https://www.statista.com/statistics/372041/venezuela-budget-balance-in-relation-to-gdp/
IMF, Venezuela: Budget balance between 2013 to 2023 in relation to GDP Statista, https://www.statista.com/statistics/372041/venezuela-budget-balance-in-relation-to-gdp/ (last visited January 04, 2025)
Venezuela: Budget balance between 2013 to 2023 in relation to GDP [Graph], IMF, October 22, 2024. [Online]. Available: https://www.statista.com/statistics/372041/venezuela-budget-balance-in-relation-to-gdp/
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