Costa Rica Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Costa Rica's budget deficit was -3.20% in 2025, ranked 105th globally. This represents a 15.5% increase from 2024. Data from IMF WEO, covering 1990–2025.
Overview
Costa Rica's budget deficit stood at -3.20% in 2025, a rise of +0.59% from 2024. The IMF projects -3.20% by 2025. Costa Rica ranked 105th globally.
Costa Rica's budget deficit has exhibited notable fluctuations over the past three and a half decades. With its all-time peak of 0.56% of GDP in 2007, Costa Rica experienced a relatively high deficit during the pre-crisis period. Conversely, the COVID-19 pandemic led to a significant decline in the budget deficit, reaching its all-time trough of -8.38% of GDP in 2020. Since then, the deficit has gradually improved, albeit still ranking among the world's 100 largest at -3.20% of GDP in 2025. This performance is comparable to that of Malta, which holds the same ranking globally. Notably, Costa Rica's budget deficit has improved significantly since its trough in 2020, suggesting a stabilization in its fiscal position. However, a rise in global interest rates or a decline in remittances could potentially alter the trajectory of Costa Rica's budget deficit.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -2.12% | - | - |
| 2029* IMF | -2.29% | - | - |
| 2028* IMF | -2.52% | - | - |
| 2027* IMF | -2.72% | - | - |
| 2026* IMF | -3.03% | - | - |
| 2025* IMF | -3.20% | - | - |
| 2025 | -3.20% | +0.59% | #105 |
| 2024 | -3.78% | −0.53% | #68 |
| 2023 | -3.25% | −0.45% | #87 |
| 2022 | -2.81% | +2.28% | #97 |
| 2021 | -5.09% | +3.29% | #75 |
| 2020 | -8.38% | −1.70% | #56 |
| 2019 | -6.68% | −1.02% | #20 |
| 2018 | -5.66% | +0.22% | #25 |
| 2017 | -5.88% | −0.78% | #25 |
| 2016 | -5.09% | +0.43% | #44 |
| 2015 | -5.52% | −0.07% | #43 |
| 2014 | -5.45% | −0.21% | #35 |
| 2013 | -5.25% | −1.03% | #32 |
| 2012 | -4.22% | −0.31% | #51 |
| 2011 | -3.91% | +1.05% | #60 |
Detected Pattern
Analysis
Costa Rica matched the Orthodox Tightening Cycle pattern in 1995. Historically, 57% of countries showing this pattern (177 out of 311) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Costa Rica's budget deficit was -3.20% in 2025. Ranked 105th globally. This represents a 15.5% increase from the previous year.
Costa Rica's budget deficit peaked at 0.56% in 2007.
The lowest budget deficit in Costa Rica was -8.38% in 2020.
Costa Rica ranks 105th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Costa Rica's budget deficit is projected to reach -3.20% by 2025 based on IMF projection.
The budget deficit of Costa Rica in 2025 was -3.20%. This ranks 105th in the world.
Cite this page
@misc{historysaid_costa-rica_budget-deficit,
title = {Costa Rica Budget Deficit},
url = {https://historysaid.com/costa-rica/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}