## Annex Table 2. Western Hemisphere: Main Fiscal Indicators

## Source details

**Canonical URL:** [Annex Table 2. Western Hemisphere: Main Fiscal Indicators](https://www.imf.org/-/media/files/publications/reo/whd/2019/october/english/table2fiscal.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/reo/whd/2019/october/english/table2fiscal.pdf.md)
- [Structured JSON version](/-/media/files/publications/reo/whd/2019/october/english/table2fiscal.pdf.json)

---

### Overview
- Table provides country-level public sector fiscal data and IMF staff projections for 2016–2020 on:
  - Public Sector Primary Expenditure (Percent of GDP)
  - Public Sector Primary Balance (Percent of GDP)
  - Public Sector Gross Debt (Percent of GDP)
- Cutoff date for data and projections is September 30, 2019.
- Definitions and country-specific coverage notes are provided in the table footnotes (e.g., central government vs. nonfinancial public sector, treatment of specific public corporations, special one-offs).

### Memorandum aggregates (exact figures)
- Latin America and the Caribbean
  - Public Sector Primary Expenditure (Percent of GDP): 28.1, 28.1, 27.2, 26.8, 26.2
  - Public Sector Primary Balance (Percent of GDP): 22.3, 21.4, 21.2, 21.0, 20.5
  - Public Sector Gross Debt (Percent of GDP): 56.3, 61.0, 67.8, 69.6, 69.2
- South America (simple average of Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela)
  - Public Sector Primary Expenditure (Percent of GDP): 28.9, 29.6, 29.0, 28.4, 28.0
  - Public Sector Primary Balance (Percent of GDP): 23.4, 23.5, 24.2, 23.6, 23.0
  - Public Sector Gross Debt (Percent of GDP): 40.2, 43.9, 64.5, 71.8, 72.6
- CAPDR (Central America and Panama, simple average of Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama)
  - Public Sector Primary Expenditure (Percent of GDP): 19.0, 19.1, 18.8, 18.9, 18.9
  - Public Sector Primary Balance (Percent of GDP): 20.5, 20.5, 20.4, 20.4, 20.6
  - Public Sector Gross Debt (Percent of GDP): 41.1, 42.8, 44.7, 46.4, 47.2
- Caribbean (simple average of Antigua and Barbuda, Aruba, The Bahamas, Barbados, Belize, Dominica, Grenada, Jamaica, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines)
  - Public Sector Primary Expenditure (Percent of GDP): 25.5, 26.8, 27.1, 26.2, 25.9
  - Public Sector Primary Balance (Percent of GDP): 4.0, 1.9, 1.5, 2.5, 1.4
  - Public Sector Gross Debt (Percent of GDP): 86.3, 85.0, 80.9, 78.9, 78.1
- Tourism dependent Caribbean (same country group as Caribbean)
  - Public Sector Primary Expenditure (Percent of GDP): 25.5, 26.8, 27.1, 26.2, 25.9
  - Public Sector Primary Balance (Percent of GDP): 4.0, 1.9, 1.5, 2.5, 1.4
  - Public Sector Gross Debt (Percent of GDP): 86.3, 85.0, 80.9, 78.9, 78.1
- Commodity exporters (simple average of Guyana, Suriname, and Trinidad and Tobago)
  - Public Sector Primary Expenditure (Percent of GDP): 29.9, 30.6, 29.8, 32.9, 27.4
  - Public Sector Primary Balance (Percent of GDP): 26.6, 25.7, 23.0, 24.1, 22.6
  - Public Sector Gross Debt (Percent of GDP): 54.6, 57.4, 56.9, 60.3, 51.7
- Eastern Caribbean Currency Union (comprises Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines, as well as Anguilla and Montserrat)
  - Public Sector Primary Expenditure (Percent of GDP): 25.3, 25.9, 26.7, 26.1, 25.4
  - Public Sector Primary Balance (Percent of GDP): 4.3, 2.2, 1.4, 1.6, 0.3
  - Public Sector Gross Debt (Percent of GDP): 74.7, 72.4, 70.1, 69.0, 68.9

### Selected country-level figures (examples, exact values)
- Canada
  - Public Sector Primary Expenditure (Percent of GDP): 37.6, 37.4, 37.7, 37.9, 38.0
  - Public Sector Primary Balance (Percent of GDP): 0.2, 0.0, (blank), 20.1, 20.5, 20.5 (table layout indicates fiscal-balance series)
  - Public Sector Gross Debt (Percent of GDP): 91.8, 90.1, 89.9, 87.5, 85.0
- Mexico
  - Public Sector Primary Expenditure (Percent of GDP): 24.0, 21.7, 21.6, 21.7, 21.1
  - Public Sector Primary Balance (Percent of GDP): 0.4, 2.6, 1.6, 0.9, 0.9
  - Public Sector Gross Debt (Percent of GDP): 56.8, 54.1, 53.6, 53.8, 54.6
- United States (expenditure and fiscal balances exclude accrual pension items for cross-country comparability)
  - Public Sector Primary Expenditure (Percent of GDP): 33.0, 32.7, 32.5, 33.7, 34.0
  - Public Sector Primary Balance (Percent of GDP): 22.3, 22.5, 23.5, 23.6, 23.6
  - Public Sector Gross Debt (Percent of GDP): 106.8, 106.0, 104.3, 106.2, 108.0
- Brazil (nonfinancial public sector excluding Petrobras and Eletrobras; consolidated with the SWF)
  - Public Sector Primary Expenditure (Percent of GDP): 30.9, 30.8, 31.1, 31.2, 30.8
  - Public Sector Primary Balance (Percent of GDP): 22.5, 21.8, 21.7, 21.9, 21.4
  - Public Sector Gross Debt (Percent of GDP): 78.3, 84.1, 87.9, 91.6, 93.9
- Argentina (primary expenditure and balance include federal government, provinces, and social security funds; gross debt federal government only)
  - Public Sector Primary Expenditure (Percent of GDP): 39.6, 38.7, 35.9, 34.2, 33.1
  - Public Sector Primary Balance (Percent of GDP): 24.8, 24.4, 22.2, 20.6, (blank)
  - Public Sector Gross Debt (Percent of GDP): 1.1, 53.1, 57.1, 86.1, 93.3, 80.8 (table shows large-format entries reflecting debt series)
- Venezuela (see Annex 2 for details on data; many entries are missing or nonstandard in the table)
  - Public Sector Primary Expenditure (Percent of GDP): 25.2, 36.6, 34.7, . . .. . .
  - Public Sector Primary Balance (Percent of GDP): 210.8, 216.6, 230.6 (table shows large-format negative values)
  - Public Sector Gross Debt (Percent of GDP): . . ....5.123.1182.4...... (nonstandard entries in table)

(Note: the table contains country-specific footnotes clarifying coverage differences such as central government only, nonfinancial public sector, consolidation changes, treatment of net lending, and one-off capital transfers. Some table entries reflect those special treatments or present nonstandard formatting for certain countries.)

*Sources: IMF, World Economic Outlook database; and IMF staff calculations and projections.*

---


_Source: https://www.imf.org/-/media/files/publications/reo/whd/2019/october/english/table2fiscal.pdf_