To assess the cyclical position of an economy, macroeconomists use a concept called potential output, which measures the economy’s production rate that is consistent with stable inflation at the target.

How can government policies move towards increasing agricultural innovation and improving productivity? This OECD conference shared case studies and ideas from Europe, China, United States, India, Africa, Brazil, Australia and New Zealand.

The OECD Working Group on Bribery reaffirms the importance of the independence of prosecutors and judges and is concerned that Brazil’s achievements in fighting corruption may be seriously jeopardised by recent legislative developments.

Today’s post is from Kate Lancaster, editor in charge of publications on government finance at the OECD. Government budgets are news. Tough choices have had to be made in these challenging economic times and we’re all interested in how our governments are managing our money.

These principles give practical guidance for designing, implementing and improving budget systems to meet the challenges of the future. They are currently being considered as a draft Recommendation of the OECD Council, underpinning their importance to good public governance.

Latin American and Caribbean countries need to do more to improve budget management, tax collection and public sector pay equality if they are to catch up with advanced economies in terms of government performance, according to a joint report by the OECD and the Inter-American Development Bank (IDB).

This paper estimates the elasticities of government revenue and expenditure items with respect to the output gap for European Union (EU) countries. These elasticities are used by the European Commission, as part of the EU fiscal surveillance process, to calculate the semi-elasticity of the budget balance as a percentage of GDP with respect to the output gap.

Knowledge sharing is critical in fostering urban green growth. Cities in dynamic Asia urgently need to adopt and strengthen green growth models that take into account rapid urbanisation, industrialisation, and motorisation.

This report analyses the strengths and weaknesses of Ireland’s system of parliamentary engagement in budgeting, and outlines a number of proposals for reform.

One of the key institutions that can play a role in steering the delivery of the SDGs by highlighting trade-offs, enabling policies across issue areas to address multiple and sometimes competing objectives is the Centre of Government.

"Indonesia is well placed to be a strong advocate for open government reforms, and to link such reforms to other multi-lateral reform efforts" - OECD Insights Blog by Luiz De Mello.

Governments in Latin America will need to improve public sector management and capacity – including budget allocation – to compensate for the pressure on public finances from sliding commodity prices, according to a new report by the OECD and Inter-American Development Bank covering more than 15 countries in the region.

A Job for Life? The old notion of a safe job in the civil service is profoundly changing - OECD Insights blog by Bill Below.

This Experts Meeting took place in Reykjavik, Iceland on 18-19 May 2017. Delegates from OECD countries shared practical experiences – successes and challenges – in implementing Gender Budgeting.

Digitalisation has already been under way for about half a century, yet it is only now that everyone is talking about a digital revolution. Why? One reason is the spread of faster and better connectivity. In 2013, about 80% of OECD countries had complete broadband coverage, fixed or wireless.

The 2017 OECD Forum takes place after a series of political upheavals few would have predicted scarcely twelve months ago. Divides have become more apparent between metropolises and capital cities on the one hand, and towns and villages on the other, between Millennials and pensioners, between the haves and the have-nots, between the best and the rest.

Toolkit providing a gateway to the various global budget and fiscal transparency institutions, official instruments, standards, and guidance materials.

This side event at the "High Level Political Forum on Sustainable Development" will provide a focused discussion on how governments can tackle the governance challenges in the implementation of the 2030 Agenda.

7-8 June 2016: This meeting of the Global Knowledge Sharing Network on Corporate Governance of State-Owned Enterprises provides an opportunity for policy makers from around the world to discuss priorities for SOE reform and to support implementation through knowledge sharing.

On the occasion of the release of the OECD Due Diligence Guidance on Responsible Business Conduct, the OECD’s Tyler Gillard looks at how governments can encourage international standards of responsible business conduct in business activities and supply chains.

Brazil recorded a government budget deficit of 49360 BRL Million in February of 2020. Government Budget Value in Brazil averaged -16512.09 BRL Million from 1998 until 2020, reaching an all time high of 26044 BRL Million in January of 2019 and a record low of -123821.44 BRL Million in December of 2015. In Brazil, government budget value refers to the nominal budget balance, which comprises the central government, regional governments and public enterprises and also includes debt servicing costs and the nominal interest of the federal government. This page provides the latest reported value for - Brazil Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Bulgaria recorded a government budget deficit of 113.28 BGN Million in March of 2020. Government Budget Value in Bulgaria averaged 198.03 BGN Million from 1994 until 2020, reaching an all time high of 3959.03 BGN Million in November of 2007 and a record low of -2831.81 BGN Million in December of 2018. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides - Bulgaria Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Ireland recorded a government budget surplus of 5059 EUR Million in the fourth quarter of 2019. Government Budget Value in Ireland averaged -36.32 EUR Million from 1975 until 2019, reaching an all time high of 6733 EUR Million in the fourth quarter of 2006 and a record low of -4927 EUR Million in the first quarter of 2013. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides the latest reported value for - Ireland Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Poland recorded a government budget deficit of 9354.50 PLN Million in March of 2020. Government Budget Value in Poland averaged -13630.63 PLN Million from 1994 until 2020, reaching an all time high of 13482.90 PLN Million in May of 2016 and a record low of -44591.09 PLN Million in December of 2010. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides - Poland Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Maldives recorded a government budget deficit of 1063.80 MVR Million in November of 2019. Government Budget Value in Maldives averaged -321.07 MVR Million from 2014 until 2019, reaching an all time high of 1299.70 MVR Million in January of 2019 and a record low of -2213.30 MVR Million in December of 2016. This page provides - Maldives Government Budget Value- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Maldives recorded a Government Budget deficit equal to 5.70 percent of the country's Gross Domestic Product in 2019. Government Budget in Maldives averaged -5.89 percent of GDP from 1997 until 2019, reaching an all time high of -1.15 percent of GDP in 2004 and a record low of -20.50 percent of GDP in 2009. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Maldives Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Afghanistan recorded a Government Budget deficit equal to 0.40 percent of the country's Gross Domestic Product in 2018. Government Budget in Afghanistan averaged -11.59 percent of GDP from 2006 until 2018, reaching an all time high of -0.40 percent of GDP in 2018 and a record low of -26.80 percent of GDP in 2008. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Afghanistan Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Afghanistan recorded a government budget deficit of 9490 AFN Million in 2018. Government Budget Value in Afghanistan averaged -81062.40 AFN Million from 2006 until 2018, reaching an all time high of -8555.30 AFN Million in 2015 and a record low of -177409.70 AFN Million in 2012. This page provides - Afghanistan Government Budget Value- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Romania recorded a government budget deficit of 19935.60 RON Million in March of 2020. Government Budget Value in Romania averaged -5860.06 RON Million from 1992 until 2020, reaching an all time high of 3486.70 RON Million in January of 2019 and a record low of -48079.20 RON Million in December of 2019. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides - Romania Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Croatia recorded a government budget surplus of 2190.40 HRK Million in September of 2019. Government Budget Value in Croatia averaged -505.11 HRK Million from 2004 until 2019, reaching an all time high of 3033.80 HRK Million in April of 2019 and a record low of -5537.90 HRK Million in December of 2008. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides - Croatia Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Argentina recorded a Government Budget deficit equal to 5.50 percent of the country's Gross Domestic Product in 2018. Government Budget in Argentina averaged -1.82 percent of GDP from 2000 until 2018, reaching an all time high of 3.70 percent of GDP in 2004 and a record low of -6.40 percent of GDP in 2001. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Argentina Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Argentina recorded a government budget deficit of 124727.70 ARS Million in March of 2020. Government Budget Value in Argentina averaged -4051.34 ARS Million from 1993 until 2020, reaching an all time high of 25973.80 ARS Million in May of 2019 and a record low of -135316.20 ARS Million in December of 2018. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides - Argentina Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Czech Republic recorded a government budget deficit of 49043.36 CZK Million in April of 2020. Government Budget Value in Czech Republic averaged -4526.97 CZK Million from 1992 until 2020, reaching an all time high of 45869.48 CZK Million in January of 2016 and a record low of -79160 CZK Million in December of 2007. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides the latest reported value for - Czech Republic Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Lithuania recorded a government budget deficit of 68.50 EUR Million in the fourth quarter of 2019. Government Budget Value in Lithuania averaged -145.28 EUR Million from 1999 until 2019, reaching an all time high of 517.40 EUR Million in the second quarter of 2018 and a record low of -1800.50 EUR Million in the fourth quarter of 2011. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides - Lithuania Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Gabon recorded a Government Budget deficit equal to 0.30 percent of the country's Gross Domestic Product in 2018. Government Budget in Gabon averaged 1.56 percent of GDP from 1990 until 2018, reaching an all time high of 10.87 percent of GDP in 2008 and a record low of -12.65 percent of GDP in 1998. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Gabon Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Madagascar recorded a Government Budget deficit equal to 2.30 percent of the country's Gross Domestic Product in 2018. Government Budget in Madagascar averaged -2.73 percent of GDP from 2000 until 2018, reaching an all time high of -0.39 percent of GDP in 2006 and a record low of -4.65 percent of GDP in 2005. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Madagascar Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Malawi recorded a Government Budget deficit equal to 4.50 percent of the country's Gross Domestic Product in 2018. Government Budget in Malawi averaged -3.33 percent of GDP from 2002 until 2018, reaching an all time high of 0.10 percent of GDP in 2010 and a record low of -7.90 percent of GDP in 2002. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Malawi Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Morocco recorded a Government Budget deficit equal to 3.70 percent of the country's Gross Domestic Product in 2018. Government Budget in Morocco averaged -2.37 percent of GDP from 1990 until 2018, reaching an all time high of 3.60 percent of GDP in 1999 and a record low of -7.20 percent of GDP in 2012. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Morocco Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Namibia recorded a Government Budget deficit equal to 4.40 percent of the country's Gross Domestic Product in 2018. Government Budget in Namibia averaged -2.87 percent of GDP from 2004 until 2018, reaching an all time high of 5.10 percent of GDP in 2007 and a record low of -8.10 percent of GDP in 2015. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Namibia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Singapore recorded a Government Budget deficit equal to 0.30 percent of the country's Gross Domestic Product in 2019. Government Budget in Singapore averaged 7.36 percent of GDP from 1990 until 2019, reaching an all time high of 21.23 percent of GDP in 1994 and a record low of -1.20 percent of GDP in 2015. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Singapore Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The United Kingdom recorded a Government Budget deficit equal to 1.80 percent of the country's Gross Domestic Product in 2019. Government Budget in the United Kingdom averaged -2.51 percent of GDP from 1948 until 2019, reaching an all time high of 4.80 percent of GDP in 1949 and a record low of -10.20 percent of GDP in 2010. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - United Kingdom Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Turkey recorded a Government Budget deficit equal to 2.90 percent of the country's Gross Domestic Product in 2019. Government Budget in Turkey averaged -4.71 percent of GDP from 2001 until 2019, reaching an all time high of -0.60 percent of GDP in 2006 and a record low of -33 percent of GDP in 2001. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides the latest reported value for - Turkey Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Gambia recorded a Government Budget deficit equal to 4.10 percent of the country's Gross Domestic Product in 2019. Government Budget in Gambia averaged -5.19 percent of GDP from 2002 until 2019, reaching an all time high of 0.10 percent of GDP in 2007 and a record low of -8.10 percent of GDP in 2014. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Gambia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Switzerland recorded a Government Budget surplus equal to 1.50 percent of the country's Gross Domestic Product in 2019. Government Budget in Switzerland averaged -0.46 percent of GDP from 1990 until 2019, reaching an all time high of 1.90 percent of GDP in 2008 and a record low of -3.20 percent of GDP in 1993. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Switzerland Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Algeria recorded a Government Budget deficit equal to 7.90 percent of the country's Gross Domestic Product in 2019. Government Budget in Algeria averaged 1.63 percent of GDP from 1990 until 2019, reaching an all time high of 14.70 percent of GDP in 2006 and a record low of -15 percent of GDP in 2015. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Algeria Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Netherlands recorded a Government Budget surplus equal to 1.70 percent of the country's Gross Domestic Product in 2019. Government Budget in Netherlands averaged -1.64 percent of GDP from 1995 until 2019, reaching an all time high of 1.70 percent of GDP in 2019 and a record low of -8.70 percent of GDP in 1995. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Netherlands Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

China recorded a Government Budget deficit equal to 2.80 percent of the country's Gross Domestic Product in 2019. Government Budget in China averaged -2.22 percent of GDP from 1988 until 2019, reaching an all time high of 0.58 percent of GDP in 2007 and a record low of -4.20 percent of GDP in 2018. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - China Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia recorded a Government Budget deficit equal to 0.20 percent of the country's Gross Domestic Product in 2019. Government Budget in Australia averaged -0.77 percent of GDP from 1971 until 2019, reaching an all time high of 2.20 percent of GDP in 1971 and a record low of -4.20 percent of GDP in 2010. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Australia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Mali recorded a Government Budget deficit equal to 3.10 percent of the country's Gross Domestic Product in 2019. Government Budget in Mali averaged -1.38 percent of GDP from 2000 until 2019, reaching an all time high of 30.40 percent of GDP in 2006 and a record low of -5.20 percent of GDP in 2007. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Mali Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Angola recorded a Government Budget deficit equal to 0.70 percent of the country's Gross Domestic Product in 2019. Government Budget in Angola averaged 1.92 percent of GDP from 2003 until 2019, reaching an all time high of 11.40 percent of GDP in 2007 and a record low of -7 percent of GDP in 2003. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Angola Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.