Eritrea Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Eritrea's budget deficit was 2.72% in 2019, ranked 176th globally. This represents a 48.0% decrease from 2018. Data from IMF WEO, covering 1992–2019.
Overview
Eritrea's budget deficit stood at 2.72% in 2019, a decline of +2.51% from 2018. Eritrea ranked 176th globally.
Eritrea’s primary fiscal balance has been persistently negative, standing at a 2.72 percent deficit of GDP in 2019, which placed the country 176th in the IMF World Economic Outlook’s global ranking. The deficit widened sharply after the early 1990s, reaching an all‑time peak of 8.69 percent in 1994, before collapsing to a historic trough of –59.74 percent in 1999, a swing that reflects the severe fiscal adjustments and external shocks of that period. Over the 28‑year series, the deficit has gradually moderated but remains higher than peer economies such as Luxembourg (2.68 percent) and Vanuatu (2.81 percent) in the same year. The lingering gap between revenue and expenditure suggests structural constraints in tax collection and public spending efficiency. Continued reforms to broaden the tax base and improve expenditure management could gradually narrow the deficit, steering Eritrea toward a more sustainable fiscal trajectory.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2019 | 2.72% | −2.51% | #176 |
| 2018 | 5.22% | +10.96% | #181 |
| 2017 | -5.74% | −4.30% | #28 |
| 2016 | -1.44% | +1.33% | #126 |
| 2015 | -2.77% | −2.64% | #96 |
| 2014 | -0.12% | +7.50% | #149 |
| 2013 | -7.62% | −2.41% | #13 |
| 2012 | -5.22% | +0.29% | #43 |
| 2011 | -5.50% | +11.01% | #34 |
| 2010 | -16.52% | +5.64% | #4 |
| 2009 | -22.16% | +15.82% | #1 |
| 2008 | -37.98% | −18.15% | #1 |
| 2007 | -19.82% | −4.34% | #2 |
| 2006 | -15.48% | +15.49% | #2 |
| 2005 | -30.97% | −23.32% | #1 |
Detected Pattern
Analysis
Eritrea matched the Export Boom Cycle pattern in 2019. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Eritrea's budget deficit was 2.72% in 2019. Ranked 176th globally. This represents a 48.0% decrease from the previous year.
Eritrea's budget deficit peaked at 8.69% in 1994.
The lowest budget deficit in Eritrea was -59.74% in 1999.
Eritrea ranks 176th globally in budget deficit as of 2019.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
The budget deficit of Eritrea in 2019 was 2.72%. This ranks 176th in the world.
Cite this page
@misc{historysaid_eritrea_budget-deficit,
title = {Eritrea Budget Deficit},
url = {https://historysaid.com/eritrea/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}