Jamaica Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Jamaica's budget deficit was 0.01% in 2025, ranked 33rd globally. This represents a 96.8% decrease from 2024. Data from IMF WEO, covering 1990–2025.
Overview
Jamaica's budget deficit stood at 0.01% in 2025, a decline of +0.21% from 2024. The IMF projects 0.01% by 2025. Jamaica ranked 33rd globally.
Jamaica’s budget deficit has narrowed dramatically from an all‑time peak of 3.14 % of GDP in 1991 to a modest surplus of 0.01 % in 2025, ranking it 33rd globally for the latest year. The sharpest contraction occurred in 2009 when the deficit turned to a trough of –10.84 %, reflecting aggressive fiscal consolidation after the global financial crisis. Over the 36‑year series, the average deficit has fallen from 2.06 % in 1990 to near balance, a trajectory mirrored only by a few peers; Turkmenistan posted a comparable surplus of 0.07 % in 2025, while Greece remained slightly in deficit at –0.01 %. The sustained reduction stems from structural reforms, improved tax collection and restrained public spending, which have collectively enhanced fiscal resilience. Continued attention to debt sustainability and external shock mitigation will be crucial for preserving the current surplus and preventing a reversal of the downward trend.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -0.72% | - | - |
| 2029* IMF | -0.56% | - | - |
| 2028* IMF | -0.60% | - | - |
| 2027* IMF | -0.75% | - | - |
| 2026* IMF | -0.87% | - | - |
| 2025* IMF | 0.01% | - | - |
| 2025 | 0.01% | −0.21% | #33 |
| 2024 | 0.22% | +0.18% | #153 |
| 2023 | 0.04% | −0.22% | #150 |
| 2022 | 0.26% | −0.58% | #152 |
| 2021 | 0.84% | +3.71% | #173 |
| 2020 | -2.87% | −3.71% | #152 |
| 2019 | 0.85% | −0.26% | #153 |
| 2018 | 1.10% | +0.68% | #150 |
| 2017 | 0.43% | +0.61% | #156 |
| 2016 | -0.18% | +0.09% | #146 |
| 2015 | -0.28% | +0.21% | #159 |
| 2014 | -0.48% | −0.60% | #143 |
| 2013 | 0.12% | +4.09% | #154 |
| 2012 | -3.97% | +2.27% | #57 |
| 2011 | -6.24% | −0.07% | #25 |
Detected Pattern
Analysis
Jamaica matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Jamaica's budget deficit was 0.01% in 2025. Ranked 33rd globally. This represents a 96.8% decrease from the previous year.
Jamaica's budget deficit peaked at 3.14% in 1991.
The lowest budget deficit in Jamaica was -10.84% in 2009.
Jamaica ranks 33rd globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Jamaica's budget deficit is projected to reach 0.01% by 2025 based on IMF projection.
The budget deficit of Jamaica in 2025 was 0.01%. This ranks 33rd in the world.
Cite this page
@misc{historysaid_jamaica_budget-deficit,
title = {Jamaica Budget Deficit},
url = {https://historysaid.com/jamaica/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}