Sri Lanka Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Sri Lanka's budget deficit was -5.64% in 2024, ranked 43rd globally. This represents a 32.3% increase from 2023. Data from IMF WEO, covering 1990–2024.
Overview
Sri Lanka's budget deficit stood at -5.64% in 2024, a rise of +2.69% from 2023. Sri Lanka ranked 43rd globally.
Sri Lanka's budget deficit has exhibited significant fluctuations over the past three and a half decades, with the IMF World Economic Outlook (WEO) data indicating a current deficit of -5.64, ranking 43rd globally. This figure contrasts with the all-time peak of -4.95 in 1992 and the trough of -13.36 in 2020, reflecting the country's vulnerability to external shocks and economic instability. Notably, Sri Lanka's deficit remains comparable to that of Mexico, which ranked closer to the island nation at -5.73. The 2020 trough, triggered by the COVID-19 pandemic, underscores the country's fiscal sensitivity to global events. In contrast, the 1992 peak suggests a relative stability in the early 1990s. With Sri Lanka's economic prospects heavily reliant on international trade and investment, a significant shift in global economic conditions or a sustained recovery in domestic economic growth could alter the trajectory of its budget deficit, potentially reducing the current deficit and improving the country's fiscal position.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2024 | -5.64% | +2.69% | #43 |
| 2023 | -8.32% | +1.90% | #9 |
| 2022 | -10.22% | +1.46% | #12 |
| 2021 | -11.68% | +1.68% | #10 |
| 2020 | -13.36% | −5.84% | #14 |
| 2019 | -7.52% | −2.56% | #16 |
| 2018 | -4.96% | +0.14% | #32 |
| 2017 | -5.10% | −0.10% | #37 |
| 2016 | -5.00% | +1.64% | #47 |
| 2015 | -6.64% | −0.65% | #32 |
| 2014 | -5.99% | −0.99% | #27 |
| 2013 | -5.01% | +0.43% | #40 |
| 2012 | -5.44% | +0.57% | #39 |
| 2011 | -6.01% | +0.72% | #29 |
| 2010 | -6.73% | +1.60% | #29 |
Detected Pattern
Analysis
Sri Lanka matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Sri Lanka's budget deficit was -5.64% in 2024. Ranked 43rd globally. This represents a 32.3% increase from the previous year.
Sri Lanka's budget deficit peaked at -4.95% in 1992.
The lowest budget deficit in Sri Lanka was -13.36% in 2020.
Sri Lanka ranks 43rd globally in budget deficit as of 2024.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
The budget deficit of Sri Lanka in 2024 was -5.64%. This ranks 43rd in the world.
Cite this page
@misc{historysaid_sri-lanka_budget-deficit,
title = {Sri Lanka Budget Deficit},
url = {https://historysaid.com/sri-lanka/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}