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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.

2.95% −6.09% (-67.3%)
Year 2025 Rank #13 Global Peak 11.57% (2006) Source IMF WEO

Lesotho Budget Deficit (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
Show all years (1982-2025)
* IMF World Economic Outlook projection

Detected Pattern

Export Boom Cycle
Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.
Reserves YoY +18.0% GDP growth 2.9% C/A balance 3.9%
Occurred 768 times, 546 successful
Reserves YoY
+25.6%
GDP growth
4.0%
C/A balance
14.5%
Reserves YoY
+14.6%
GDP growth
3.7%
C/A balance
2.9%
Reserves YoY
+12.8%
GDP growth
43.8%
C/A balance
16.4%
Reserves YoY
+12.6%
GDP growth
6.0%
C/A balance
0.5%
Reserves YoY
+38.3%
GDP growth
5.0%
C/A balance
1.2%
Reserves YoY
+18.0%
GDP growth
2.9%
C/A balance
3.9%

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

What is Lesotho's budget deficit?▾

Lesotho's budget deficit was 2.95% in 2025. Ranked 13th globally. This represents a 67.3% decrease from the previous year.

What was the highest budget deficit in Lesotho?▾

Lesotho's budget deficit peaked at 11.57% in 2006.

What was the lowest budget deficit in Lesotho?▾

The lowest budget deficit in Lesotho was -15.30% in 1999.

How does Lesotho rank in budget deficit?▾

Lesotho ranks 13th globally in budget deficit as of 2025.

What is the World Bank indicator code for budget deficit?▾

The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.

What is the projected budget deficit of Lesotho in 2025?▾

Lesotho's budget deficit is projected to reach 2.95% by 2025 based on IMF projection.

What is the budget deficit of Lesotho in 2025?▾

The budget deficit of Lesotho in 2025 was 2.95%. This ranks 13th in the world.

Cite this page

APA
Lesotho Budget Deficit. HistorySaid. Retrieved November 14, 2026, from https://historysaid.com/lesotho/budget-deficit/
BibTeX
@misc{historysaid_lesotho_budget-deficit, title = {Lesotho Budget Deficit}, url = {https://historysaid.com/lesotho/budget-deficit/}, publisher = {HistorySaid}, year = {2026} }
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