Liechtenstein Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Liechtenstein's budget deficit was 2.94% in 2025, ranked 14th globally. This represents a 11.8% decrease from 2024. Data from IMF WEO, covering 2011–2025.
Overview
Liechtenstein's budget deficit stood at 2.94% in 2025, a decline of +0.40% from 2024. The IMF projects 2.94% by 2025. Liechtenstein ranked 14th globally.
Liechtenstein’s budget deficit has widened markedly since 2011, when it stood at 1.97 % of GDP, to 2.94 % in 2025, placing the micro‑state 14th globally according to the IMF World Economic Outlook. The sharpest deterioration occurred in 2020, when the deficit surged to an all‑time peak of 7.39 % amid the COVID‑19 pandemic, before falling to a historic trough of –2.49 % in 2012. Over the 15‑year span, the deficit trajectory has been more volatile than that of peers such as Andorra (2.47 % in 2025) and Lesotho (2.95 % in 2025), reflecting Liechtenstein’s limited fiscal buffer and reliance on external financial services. While the recent rise to 2.94 % suggests a modest fiscal expansion, the government’s commitment to fiscal consolidation could reverse the upward swing if expenditure growth is restrained and revenue reforms are implemented, potentially returning the deficit to sub‑2 % levels in the medium term.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 3.29% | - | - |
| 2029* IMF | 3.18% | - | - |
| 2028* IMF | 3.18% | - | - |
| 2027* IMF | 3.28% | - | - |
| 2026* IMF | 3.20% | - | - |
| 2025* IMF | 2.94% | - | - |
| 2025 | 2.94% | −0.40% | #14 |
| 2024 | 3.33% | −1.04% | #171 |
| 2023 | 4.37% | +1.07% | #176 |
| 2022 | 3.30% | +0.87% | #173 |
| 2021 | 2.43% | −4.96% | #179 |
| 2020 | 7.39% | +3.80% | #189 |
| 2019 | 3.60% | +0.78% | #180 |
| 2018 | 2.82% | +0.08% | #170 |
| 2017 | 2.74% | −0.21% | #177 |
| 2016 | 2.95% | −0.60% | #177 |
| 2015 | 3.56% | +1.44% | #181 |
| 2014 | 2.11% | +3.35% | #167 |
| 2013 | -1.24% | +1.25% | #126 |
| 2012 | -2.49% | −4.46% | #91 |
| 2011 | 1.97% | – | #165 |
Analysis
Liechtenstein's budget deficit was 2.94% in 2025, a decline of −0.40% from 2024. IMF projects 2.94% by 2025.
Frequently Asked Questions
Liechtenstein's budget deficit was 2.94% in 2025. Ranked 14th globally. This represents a 11.8% decrease from the previous year.
Liechtenstein's budget deficit peaked at 7.39% in 2020.
The lowest budget deficit in Liechtenstein was -2.49% in 2012.
Liechtenstein ranks 14th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Liechtenstein's budget deficit is projected to reach 2.94% by 2025 based on IMF projection.
The budget deficit of Liechtenstein in 2025 was 2.94%. This ranks 14th in the world.
Cite this page
@misc{historysaid_liechtenstein_budget-deficit,
title = {Liechtenstein Budget Deficit},
url = {https://historysaid.com/liechtenstein/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}