15 Countries with the Largest Budget Deficit as a Percent of GDP

In this article, we will look at the 15 countries with the largest budget deficit as a percentage of GDP. A budget deficit occurs when the government's spending on public service, infrastructure, and other projects exceeds its revenue over a period, thus resulting in a negative balance of payment. While a budget deficit can bring positive effects on the economy in a short-term analysis by increasing aggregate demand, uplifting an economy from a recession, and increasing government spending....