Zambia Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Zambia's budget deficit was -5.25% in 2025, ranked 146th globally. This represents a 58.2% decrease from 2024. Data from IMF WEO, covering 2000–2025.
Overview
Zambia's budget deficit stood at -5.25% in 2025, a decline of +1.93% from 2024. The IMF projects -5.25% by 2025. Zambia ranked 146th globally.
Zambia’s budget deficit has swung dramatically over the 26‑year span covered by the IMF World Economic Outlook, moving from a modest surplus of 1.16 percent of GDP in 2000 to an all‑time peak deficit of 16.91 percent in 2006, before plunging to a historic trough of –13.76 percent in 2020. The latest estimate for 2025 shows a deficit of –5.25 percent, placing Zambia 146th globally and roughly in line with peers such as Trinidad and Tobago (–5.20 percent) and Mozambique (–5.32 percent). The 2006 surge reflected heightened fiscal pressures from commodity price volatility and expansive public spending, while the 2020 reversal was driven by pandemic‑related fiscal stimulus and a collapse in revenue. The recent narrowing of the deficit suggests a modest consolidation path, but sustaining this trajectory will depend on stabilising revenue streams, curbing expenditures, and maintaining external financing conditions.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -1.15% | - | - |
| 2029* IMF | -1.36% | - | - |
| 2028* IMF | -1.63% | - | - |
| 2027* IMF | -1.65% | - | - |
| 2026* IMF | -3.71% | - | - |
| 2025* IMF | -5.25% | - | - |
| 2025 | -5.25% | −1.93% | #146 |
| 2024 | -3.32% | +2.16% | #81 |
| 2023 | -5.48% | +2.34% | #36 |
| 2022 | -7.82% | +0.31% | #19 |
| 2021 | -8.14% | +5.63% | #27 |
| 2020 | -13.76% | −4.36% | #13 |
| 2019 | -9.41% | −1.10% | #6 |
| 2018 | -8.31% | −0.81% | #7 |
| 2017 | -7.50% | −1.81% | #14 |
| 2016 | -5.69% | +3.19% | #38 |
| 2015 | -8.88% | −3.45% | #15 |
| 2014 | -5.43% | +0.96% | #36 |
| 2013 | -6.40% | −3.24% | #22 |
| 2012 | -3.16% | −1.37% | #74 |
| 2011 | -1.78% | +0.65% | #114 |
Detected Pattern
Analysis
Zambia 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
Zambia's budget deficit was -5.25% in 2025. Ranked 146th globally. This represents a 58.2% decrease from the previous year.
Zambia's budget deficit peaked at 16.91% in 2006.
The lowest budget deficit in Zambia was -13.76% in 2020.
Zambia ranks 146th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Zambia's budget deficit is projected to reach -5.25% by 2025 based on IMF projection.
The budget deficit of Zambia in 2025 was -5.25%. This ranks 146th in the world.
Cite this page
@misc{historysaid_zambia_budget-deficit,
title = {Zambia Budget Deficit},
url = {https://historysaid.com/zambia/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}