Government net lending/borrowing in Spain

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -2.1% 2027: -2.3% 2028: -2.2% 2029: -2.2% 2030: -2.2% 2031: -2.2%

-1.2 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	-1.2
Jan 1998	-2.6
Jan 1997	-3.9
Jan 1996	-5.9
Jan 1995	-6.8
Jan 1994	-6.3
Jan 1993	-6.9
Jan 1992	-4.3
Jan 1991	-4.6
Jan 1990	-3.9

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Spain's government deficit is the shortfall in the general government accounts when spending exceeds revenue over a period; when revenue exceeds spending it is a surplus. It is usually expressed as a share of GDP.

How it's calculated

It is calculated as the gap between the general government's non-financial revenue and spending (central, regional and local government plus Social Security), under the EU's harmonised national accounts (net lending or borrowing under ESA rules). The result is expressed relative to GDP.

Market implications

The deficit drives the government's borrowing needs and the path of public debt, and its compliance with EU fiscal rules is closely tracked. It is a key gauge for markets and rating agencies.

Limitations

It is a low-frequency figure subject to revisions. It is worth distinguishing the overall balance from the primary balance (which excludes debt interest) and from the cyclical component tied to the economic cycle.