Faroe Islands Budget surplus (+) or deficit (-)

Factbook > Countries > Faroe Islands > Economy

Budget surplus (+) or deficit (-): -11.9% of GDP (2010 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 August 23, 2014

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