Budget surplus (+) or deficit (-): -2.9% of GDP (2012 est.)
Definition: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budge deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of February 21, 2013
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