Lesotho Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Lesotho's budget deficit was 2.95% in 2025, ranked 13th globally. This represents a 67.3% decrease from 2024. Data from IMF WEO, covering 1982–2025.
Overview
Lesotho's budget deficit stood at 2.95% in 2025, a decline of +6.09% from 2024. The IMF projects 2.95% by 2025. Lesotho ranked 13th globally.
Lesotho’s general government budget deficit has widened markedly since the late 1990s, moving from a deep surplus of ‑15.30 percent of GDP in 1999 to an all‑time high of 11.57 percent in 2006, before settling at a modest 2.95 percent in 2025, which places the country thirteenth globally among 44 years of IMF World Economic Outlook coverage. The sharp reversal after 1999 reflected a combination of reduced commodity revenues and expanding social expenditures, while the 2006 peak coincided with heightened fiscal stimulus aimed at infrastructure development and poverty reduction. By contrast, Liechtenstein recorded a comparable deficit of 2.94 percent in the same year, underscoring Lesotho’s relatively higher fiscal slack despite recent consolidation. Persistent structural deficits and limited revenue diversification suggest that future trajectories will depend on the effectiveness of tax reforms and growth‑oriented public investment; absent such measures, the modest surplus achieved in 2025 may prove difficult to sustain.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 0.83% | - | - |
| 2029* IMF | 1.91% | - | - |
| 2028* IMF | 1.84% | - | - |
| 2027* IMF | 3.52% | - | - |
| 2026* IMF | 3.77% | - | - |
| 2025* IMF | 2.95% | - | - |
| 2025 | 2.95% | −6.09% | #13 |
| 2024 | 9.04% | +1.73% | #185 |
| 2023 | 7.32% | +13.72% | #182 |
| 2022 | -6.41% | −1.46% | #31 |
| 2021 | -4.95% | −6.13% | #78 |
| 2020 | 1.18% | +6.90% | #180 |
| 2019 | -5.72% | −1.31% | #27 |
| 2018 | -4.41% | −2.39% | #40 |
| 2017 | -2.02% | +7.41% | #101 |
| 2016 | -9.43% | −8.05% | #18 |
| 2015 | -1.38% | −4.54% | #133 |
| 2014 | 3.16% | +5.74% | #174 |
| 2013 | -2.58% | −7.15% | #91 |
| 2012 | 4.56% | +14.41% | #173 |
| 2011 | -9.85% | −8.36% | #7 |
Detected Pattern
Analysis
Lesotho matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Lesotho's budget deficit was 2.95% in 2025. Ranked 13th globally. This represents a 67.3% decrease from the previous year.
Lesotho's budget deficit peaked at 11.57% in 2006.
The lowest budget deficit in Lesotho was -15.30% in 1999.
Lesotho ranks 13th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Lesotho's budget deficit is projected to reach 2.95% by 2025 based on IMF projection.
The budget deficit of Lesotho in 2025 was 2.95%. This ranks 13th in the world.
Cite this page
@misc{historysaid_lesotho_budget-deficit,
title = {Lesotho Budget Deficit},
url = {https://historysaid.com/lesotho/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}