New Zealand Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
New Zealand's budget deficit was -4.06% in 2025, ranked 129th globally. This represents a 12.6% decrease from 2024. Data from IMF WEO, covering 1985–2025.
Overview
New Zealand's budget deficit stood at -4.06% in 2025, a decline of +0.46% from 2024. The IMF projects -4.06% by 2025. New Zealand ranked 129th globally.
New Zealand's budget deficit has experienced significant fluctuations over the 41-year period from 1985 to 2025, with the deficit peaking at 5.13% in 2005 and troughing at -6.97% in the same year. This stark reversal suggests a considerable shift in the country's fiscal policy stance, likely driven by factors such as economic downturns and government spending adjustments. In more recent years, New Zealand's budget deficit has narrowed, with the latest IMF World Economic Outlook figure indicating a deficit of -4.06% in 2025, ranking 129th globally. Notably, this deficit is comparable to that of peer country Burkina Faso, which also recorded a -4.00% budget deficit in 2025. To alter the trajectory of New Zealand's budget deficit, a combination of sustained economic growth and prudent fiscal management would be necessary, potentially through measures such as targeted tax reforms or strategic public spending adjustments.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -0.01% | - | - |
| 2029* IMF | -0.47% | - | - |
| 2028* IMF | -1.47% | - | - |
| 2027* IMF | -2.52% | - | - |
| 2026* IMF | -3.58% | - | - |
| 2025* IMF | -4.06% | - | - |
| 2025 | -4.06% | −0.46% | #129 |
| 2024 | -3.61% | −0.07% | #72 |
| 2023 | -3.54% | +0.62% | #79 |
| 2022 | -4.16% | −0.66% | #69 |
| 2021 | -3.50% | +0.85% | #102 |
| 2020 | -4.35% | −1.85% | #128 |
| 2019 | -2.50% | −3.77% | #76 |
| 2018 | 1.27% | −0.09% | #151 |
| 2017 | 1.36% | +0.38% | #168 |
| 2016 | 0.98% | +0.61% | #167 |
| 2015 | 0.37% | +0.70% | #168 |
| 2014 | -0.34% | +0.95% | #144 |
| 2013 | -1.29% | +0.90% | #122 |
| 2012 | -2.19% | +2.77% | #101 |
| 2011 | -4.96% | +0.55% | #41 |
Analysis
New Zealand's budget deficit was -4.06% in 2025, a decline of −0.46% from 2024. IMF projects -4.06% by 2025.
Frequently Asked Questions
New Zealand's budget deficit was -4.06% in 2025. Ranked 129th globally. This represents a 12.6% decrease from the previous year.
New Zealand's budget deficit peaked at 5.13% in 2005.
The lowest budget deficit in New Zealand was -6.97% in 1985.
New Zealand ranks 129th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
New Zealand's budget deficit is projected to reach -4.06% by 2025 based on IMF projection.
The budget deficit of New Zealand in 2025 was -4.06%. This ranks 129th in the world.
Cite this page
@misc{historysaid_new-zealand_budget-deficit,
title = {New Zealand Budget Deficit},
url = {https://historysaid.com/new-zealand/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}