Rwanda Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Rwanda's budget deficit was -6.29% in 2025, ranked 157th globally. This represents a 4.2% increase from 2024. Data from IMF WEO, covering 1992–2025.
Overview
Rwanda's budget deficit stood at -6.29% in 2025, a rise of +0.28% from 2024. The IMF projects -6.29% by 2025. Rwanda ranked 157th globally.
Rwanda's budget deficit has experienced significant fluctuations over the past 34 years, with the latest value standing at -6.29% of GDP, ranking 157 globally. Historically, the country's deficit has been at its worst in 1994, with a deficit of -9.54%, largely due to post-conflict reconstruction efforts. Conversely, 2004 marked the peak deficit of 2.27%, reflecting a period of increased government spending. Despite these fluctuations, Rwanda's budget deficit has generally exhibited a downward trend in recent years, with peer countries such as South Africa (-5.99%) and Kenya (-5.96%) also experiencing relatively stable deficits. In comparison to Iraq (-6.29%), Rwanda's deficit is relatively stable, albeit with a higher ranking. Looking forward, a sustained increase in economic growth, driven by investments in infrastructure and human capital, could help reduce the budget deficit and potentially alter the country's trajectory of fiscal consolidation.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -2.35% | - | - |
| 2029* IMF | -2.74% | - | - |
| 2028* IMF | -2.94% | - | - |
| 2027* IMF | -3.16% | - | - |
| 2026* IMF | -3.31% | - | - |
| 2025* IMF | -6.29% | - | - |
| 2025 | -6.29% | +0.28% | #157 |
| 2024 | -6.57% | −1.53% | #31 |
| 2023 | -5.04% | +0.70% | #47 |
| 2022 | -5.74% | +1.27% | #41 |
| 2021 | -7.00% | +2.54% | #39 |
| 2020 | -9.54% | −4.47% | #39 |
| 2019 | -5.08% | −2.50% | #30 |
| 2018 | -2.57% | −0.06% | #72 |
| 2017 | -2.52% | −0.25% | #88 |
| 2016 | -2.27% | +0.41% | #105 |
| 2015 | -2.68% | +1.24% | #100 |
| 2014 | -3.92% | −2.65% | #62 |
| 2013 | -1.27% | +1.11% | #124 |
| 2012 | -2.38% | −1.52% | #95 |
| 2011 | -0.86% | −0.22% | #128 |
Detected Pattern
Analysis
Rwanda matched the Orthodox Tightening Cycle pattern in 2023. Historically, 57% of countries showing this pattern (177 out of 311) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Rwanda's budget deficit was -6.29% in 2025. Ranked 157th globally. This represents a 4.2% increase from the previous year.
Rwanda's budget deficit peaked at 2.27% in 2004.
The lowest budget deficit in Rwanda was -9.55% in 1994.
Rwanda ranks 157th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Rwanda's budget deficit is projected to reach -6.29% by 2025 based on IMF projection.
The budget deficit of Rwanda in 2025 was -6.29%. This ranks 157th in the world.
Cite this page
@misc{historysaid_rwanda_budget-deficit,
title = {Rwanda Budget Deficit},
url = {https://historysaid.com/rwanda/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}