Spain Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Spain's budget deficit was -2.72% in 2025, ranked 87th globally. This represents a 13.5% increase from 2024. Data from IMF WEO, covering 1980–2025.
Overview
Spain's budget deficit stood at -2.72% in 2025, a rise of +0.43% from 2024. The IMF projects -2.72% by 2025. Spain ranked 87th globally.
Spain's budget deficit has experienced significant fluctuations over the past four decades, with the country's fiscal balance exhibiting a wide range of outcomes. At its peak in 2006, the deficit reached 2.12, a result of a housing market bubble and subsequent economic downturn. Conversely, the trough occurred in 2012, with a deficit of -11.50, a period of austerity measures implemented in response to the European sovereign debt crisis. As of 2025, Spain's budget deficit has narrowed to -2.72, ranking it 87th globally. This improvement is comparable to that of Lithuania, which shares a similar deficit ranking of -2.69. The reduction in Spain's deficit since 2012 is a positive development, suggesting a return to fiscal stability. However, a sustained increase in government spending or a decline in revenue could potentially reverse this trend, necessitating a re-evaluation of Spain's fiscal policy trajectory.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -2.02% | - | - |
| 2029* IMF | -2.12% | - | - |
| 2028* IMF | -2.26% | - | - |
| 2027* IMF | -2.39% | - | - |
| 2026* IMF | -2.47% | - | - |
| 2025* IMF | -2.72% | - | - |
| 2025 | -2.72% | +0.43% | #87 |
| 2024 | -3.15% | +0.37% | #84 |
| 2023 | -3.52% | +1.12% | #80 |
| 2022 | -4.63% | +2.03% | #59 |
| 2021 | -6.66% | +3.37% | #46 |
| 2020 | -10.03% | −6.99% | #34 |
| 2019 | -3.04% | −0.46% | #69 |
| 2018 | -2.58% | +0.52% | #71 |
| 2017 | -3.10% | +1.17% | #70 |
| 2016 | -4.27% | +1.00% | #59 |
| 2015 | -5.27% | +0.81% | #45 |
| 2014 | -6.07% | +1.42% | #26 |
| 2013 | -7.49% | +4.01% | #15 |
| 2012 | -11.50% | −1.80% | #5 |
| 2011 | -9.70% | −0.21% | #9 |
Detected Pattern
Analysis
Spain matched the Export Boom Cycle pattern in 2023. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Spain's budget deficit was -2.72% in 2025. Ranked 87th globally. This represents a 13.5% increase from the previous year.
Spain's budget deficit peaked at 2.12% in 2006.
The lowest budget deficit in Spain was -11.50% in 2012.
Spain ranks 87th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Spain's budget deficit is projected to reach -2.72% by 2025 based on IMF projection.
The budget deficit of Spain in 2025 was -2.72%. This ranks 87th in the world.
Cite this page
@misc{historysaid_spain_budget-deficit,
title = {Spain Budget Deficit},
url = {https://historysaid.com/spain/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}