Australia recorded a Government Budget surplus equal to 0.90 percent of the country's Gross Domestic Product in 2023. This dataset provides - Australia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia Government Budget: Surplus or Deficit data was reported at -18,186.000 AUD mn in Jan 2025. This records a decrease from the previous number of -9,297.000 AUD mn for Dec 2024. Australia Government Budget: Surplus or Deficit data is updated monthly, averaging -498.000 AUD mn from Jul 1973 (Median) to Jan 2025, with 589 observations. The data reached an all-time high of 26,767.000 AUD mn in May 2023 and a record low of -33,374.000 AUD mn in Jul 2020. Australia Government Budget: Surplus or Deficit data remains active status in CEIC and is reported by Department of Finance. The data is categorized under Global Database’s Australia – Table AU.F007: General Government: Cashflow Statement.

The budget balance in relation to the GDP in Australia was forecast to increase between 2024 and 2029 by in total 0.7 percentage points. This overall increase does not happen continuously, notably not in 2028 and 2029. The budget balance is estimated to amount to -0.99 percent in 2029. The indicator describes the general government net lending/borrowing which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expense and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.Find more key insights for the budget balance in relation to the GDP in countries like Vanuatu, Marshall Islands, and Kiribati.

Australia recorded a government budget deficit of 12144 AUD Million in January of 2025. This dataset provides - Australia Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Australia Consolidated Fiscal Balance: % of GDP

• Australia Consolidated Fiscal Balance recorded a deficit equal to 2.3 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 2.1 % in the previous quarter
• Australia Consolidated Fiscal Balance to GDP data is updated quarterly, available from Jun 2003 to Dec 2024, with an average ratio of -2.2 %
• The data reached an all-time high of 2.2 % in Mar 2004 and a record low of -13.9 % in Mar 2021

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from quarterly Consolidated Fiscal Balance and quarterly Nominal GDP. The Australian Bureau of Statistics provides Consolidated Fiscal Balance in local currency and Nominal GDP in local currency. Consolidated Fiscal Balance prior to June 2018 is based on SNA 2008 GFMS 2001. Consolidated Fiscal Balance prior to June 2009 is based on SNA 1993.


Further information about Australia Consolidated Fiscal Balance: % of GDP

• In the latest reports, Australia National Government Debt reached 650.9 USD bn in Jun 2023
• Australia Nominal GDP reached 440.1 USD bn in Mar 2023

This dataset provides values for GOVERNMENT BUDGET VALUE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

On 22 June 2017, the Hon. Tom Koutsantonis released the 2017–18 State Budget. "We are protecting existing jobs and trying to help our traditional manufacturers survive in tougher economic conditions. We are backing our steel-makers in Whyalla and supporting component manufacturers in the car industry to develop new products and markets. We can do all this because of our prudent fiscal management that ensures we deliver a budget that records an operating surplus this year and across the forward estimates, meeting all our fiscal targets. This is a Labor Budget, a budget that will grow the jobs of today and create the jobs of the future. This is a budget that puts South Australians first."

This dataset contains independent analysis and projections of key budget outcomes such as debt and the budget balance over the forward estimates to 2024-25 and the medium term to 2031-32, and scenario analysis of fiscal sustainability over the longer term to 2060-61, as published in the Parliamentary Budget Office's Beyond the budget 2021-22: Fiscal outlook and scenarios report.

The dataset allows users to:

• better understand the factors that are leading to changes in the budget aggregates over the medium-term to 2031-32
• supplement the budget forecast and projections contained in the 2021-22 Australian Government budget papers
• access historical budget data on a range of budget aggregates
• explore longer-term fiscal sustainability through results for 27 scnearios for the debt-to-GDP ratio.

For more information about the terms used in the dataset, see the Parliamentary Budget Office's online budget glossary.

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Australia License

This statistic shows the gross domestic product (GDP) in Italy from 1987 to 2023 with projections up until 2029. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. In 2023, the GDP in Italy was about 2.26 trillion U.S. dollars. See global GDP for a global comparison.

Italy's economy

After increasing significantly year-over-year, Italy’s gross domestic product (GDP) has gone through several fluctuations since the global economic crisis in 2008. The European Union’s third largest economy has experienced downturns, primarily due to inefficiency with regards to spending and incompetent leadership.

When analyzing the country’s budget balance, which is essentially the overall difference between revenues and spending, Italy has posted a negative balance, or a state deficit, every year over the past decade. However, their budget balance has improved noticeably every year since 2009. Since the country spent more than they earned, national debt continued to rise every year, most notably between 2008 and 2009, and continued to do so going into 2014. Italy’s dependency on funding from other countries will lead to further debt, unless it finds a way to decrease spending or increase revenues.

Despite the country’s ongoing recession, Italy’s GDP ranked the country in the top 10 countries with the largest gross domestic product in 2014, ahead of economically developed countries such as Canada and Australia. This implies that Italy’s economical struggles are more a result of inefficient spending rather than a lack of production.