San Marino Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
San Marino's budget deficit was -1.68% in 2025, ranked 58th globally. This represents a 215.8% decrease from 2024. Data from IMF WEO, covering 2004–2025.
Overview
San Marino's budget deficit stood at -1.68% in 2025, a decline of +1.15% from 2024. The IMF projects -1.68% by 2025. San Marino ranked 58th globally.
San Marino's budget deficit has exhibited significant fluctuations over the past two decades. The country's all-time high deficit of 3.58% occurred in 2005, while the trough of -37.59% was recorded in 2020, suggesting a substantial improvement in fiscal management. The budget deficit has been steadily decreasing since 2020, with the latest figure standing at -1.68% in 2025, ranking 58th globally. A comparison with peer countries reveals that San Marino's deficit is lower than that of Paraguay, which has a deficit of -1.66%. San Marino's improved fiscal stance is likely attributed to the government's efforts to contain spending and increase revenue. However, the country's reliance on tourism and the ongoing economic challenges faced by the European Union may impact its fiscal trajectory in the future. A potential shift in the country's economic diversification strategy could alter the trajectory of the budget deficit.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -0.37% | - | - |
| 2029* IMF | -0.40% | - | - |
| 2028* IMF | -0.44% | - | - |
| 2027* IMF | -1.15% | - | - |
| 2026* IMF | -1.21% | - | - |
| 2025* IMF | -1.68% | - | - |
| 2025 | -1.68% | −1.15% | #58 |
| 2024 | -0.53% | +0.19% | #148 |
| 2023 | -0.72% | −1.15% | #140 |
| 2022 | 0.42% | +16.84% | #154 |
| 2021 | -16.42% | +21.17% | #2 |
| 2020 | -37.59% | −37.48% | #1 |
| 2019 | -0.11% | +1.45% | #131 |
| 2018 | -1.56% | +1.93% | #99 |
| 2017 | -3.49% | −3.30% | #58 |
| 2016 | -0.19% | +3.14% | #145 |
| 2015 | -3.32% | −4.39% | #82 |
| 2014 | 1.06% | +8.81% | #159 |
| 2013 | -7.74% | −0.66% | #12 |
| 2012 | -7.08% | −3.03% | #21 |
| 2011 | -4.05% | −1.81% | #58 |
Detected Pattern
Analysis
San Marino matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
San Marino's budget deficit was -1.68% in 2025. Ranked 58th globally. This represents a 215.8% decrease from the previous year.
San Marino's budget deficit peaked at 3.58% in 2005.
The lowest budget deficit in San Marino was -37.59% in 2020.
San Marino ranks 58th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
San Marino's budget deficit is projected to reach -1.68% by 2025 based on IMF projection.
The budget deficit of San Marino in 2025 was -1.68%. This ranks 58th in the world.
Cite this page
@misc{historysaid_san-marino_budget-deficit,
title = {San Marino Budget Deficit},
url = {https://historysaid.com/san-marino/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}