Overall Fiscal Balance for General Government for Saudi Arabia
SAUGGBGDPGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.75
Year-over-Year Change
-58.91%
Date Range
1/1/2000 - 1/1/2023
Summary
The 'Overall Fiscal Balance for General Government for Saudi Arabia' measures the difference between government revenue and expenditure as a percentage of GDP. This metric is important for assessing a country's fiscal sustainability and policy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator represents the overall fiscal position of the Saudi Arabian government, including all revenues and expenditures across federal, regional, and local levels. It is a key measure of fiscal policy and a factor in evaluating economic stability and creditworthiness.
Methodology
The data is calculated by the International Monetary Fund (IMF) based on reported government finance statistics.
Historical Context
Policymakers and analysts use this metric to gauge the government's fiscal policy stance and its impact on the broader economy.
Key Facts
- Saudi Arabia's fiscal balance averaged -3.4% of GDP from 2010-2019.
- The fiscal balance swung to a deficit in 2015 due to lower oil revenues.
- The government aims to achieve fiscal balance by 2023 under its 'Vision 2030' plan.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the difference between the Saudi Arabian government's total revenue and total expenditure as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: The overall fiscal balance is a key indicator of the government's fiscal policy stance and its ability to manage public finances. It is closely watched by policymakers, investors, and analysts to assess economic stability and creditworthiness.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund (IMF) based on reported government finance statistics.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to gauge the government's fiscal policy stance and its impact on the broader economy. It informs decisions on taxation, spending, and borrowing, as well as assessments of economic stability and creditworthiness.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of several months, so it may not reflect the most recent fiscal developments. Additionally, the methodology and data sources can vary across countries, limiting direct international comparisons.
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Citation
U.S. Federal Reserve, Overall Fiscal Balance for General Government for Saudi Arabia (SAUGGBGDPGDPPT), retrieved from FRED.