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

In this article, we will look into the 5 countries with the largest budget deficit as a percent of GDP. If you want to read our detailed analysis, you can go directly to the 15 Countries with the Largest Budget Deficit as a Percent of GDP.

5. Brunei Darussalam

General government net lending/borrowing (2023) (Percentage of GDP): -9.669%

Current GDP (2023): $15.15 billion

Brunei Darussalam is an Asian country commonly known as Brunei. It ranks as the 5th country with the largest budget deficit as a percentage of GDP. Brunei Darussalam had a budget deficit of 9.669% of its GDP in 2023.

4. Macao (Special Administrative Region of China)

General government net lending/borrowing (2023) (Percentage of GDP): -10.871%

Current GDP (2023): $38.48 billion 

Macao is a special administrative region of China that had a GDP of $38.48 billion in 2023. The country ranks 4th on our list of countries with the largest budget deficit as a percentage of GDP. Macao had a budget deficit of 10.871% of its GDP in 2023. 

3. Kiribati

General government net lending/borrowing (2023) (Percentage of GDP): -12.032%

Current GDP (2023): $246 million

Ranking 3rd on our list is Kiribati. It is an island country situated in the Pacific Ocean. The country had a budget deficit of 12.032% of its GDP in 2023. The GDP of Kiribati was $246 million during the same year.

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.

1. Democratic Republic of Timor-Leste

General government net lending/borrowing (2023) (Percentage of GDP): -39.217%

Current GDP (2023): $2.02 billion 

Democratic Republic of Timor-Leste is an Asian country and ranks as the largest budget deficit country as a percentage of GDP. It had a GDP of $2.02 billion in 2023, whereas the country’s budget deficit amounted to 39.217% of its GDP during the same year. 

You can also look at 25 Things Every Dividend Investor Should Know and Top 15 Agricultural States in the US.