5 Countries with the Largest Budget Deficit as a Percent of GDP

2. Ukraine

General government net lending/borrowing (2023) (Percentage of GDP): -19.083%

Current GDP (2023): $173.41 billion

Ukraine is a European country that ranks 2nd on our list of countries with the largest budget deficit as a percentage of GDP. It had a budget deficit of 19.083% of its GDP in 2023, with a GDP of $173.41 billion during the same year.