Top 10 African countries with the lowest government overall balance in 2023

According to the IMF, the overall fiscal balance refers to net lending and borrowing by the general government. In some cases, however, the overall balance refers to total revenue and grants minus total expenditure and net lending.

The IMF’s Fiscal Monitor Report for October detailed the overall balance of every nation including advanced economies, emerging and developing economies, and low-income countries.

A low government overall balance, often referred to as a fiscal deficit, occurs when a government’s total expenditures exceed its total revenues in a given period. This situation can lead to several economic and social implications, including interest payment, reduced investor confidence, and inflation among others.

The balance of every country, including low-income nations, emerging and developing economies, and advanced economies, was described in full in the IMF’s Fiscal Monitor Report for October.

IMF staff estimates and government data sources are the sources of the fiscal gross and net debt figures published in the Fiscal Monitor.

Sub-Saharan African nations have an average overall balance of -4.0, whereas low-income developing countries in Asia and Latin America have average balances of -3.3 and -1.2, respectively.

Below are the ten African countries with the lowest overall government balance in Africa.