Venezuela recorded a Government Budget deficit equal to 29.90 percent of the country's Gross Domestic Product in 2019.

Government Budget in Venezuela averaged -5.79 percent of GDP from 1990 until 2019, reaching an all time high of 3.79 percent of GDP in 1991 and a record low of -29.90 percent of GDP in 2018. This page provides - Venezuela Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Venezuela Government Budget - values, historical data and charts - was last updated on October of 2020.

Government Budget in Venezuela is expected to reach -40.00 percent of GDP by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Venezuela Government Budget is projected to trend around -50.00 percent of GDP in 2021 and -55.00 percent of GDP in 2022, according to our econometric models.

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Venezuela Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-29.90 -29.90 3.79 -29.90 1990 - 2019 percent of GDP Yearly

Venezuela Government Last Previous Highest Lowest Unit
Government Debt to GDP 23.00 31.40 72.30 20.30 percent [+]
Government Budget -29.90 -29.90 3.79 -29.90 percent of GDP [+]
Government Spending 1286.00 2703.00 3645.00 1069.00 VEF Million [+]
Credit Rating 11.00 [+]
Military Expenditure 465.00 389.00 1852.00 200.00 USD Million [+]

Venezuela Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.