The statistic shows the budget balance in relation to GDP of the Caucasus countries between 2020 and 2030. A positive value indicates a budget surplus, a negative value indicates a deficit. Caucasus stands for the mountain range between the Black Sea and the Caspian Sea, encompassing areas in Armenia, Azerbaijan, Georgia, and Russia. In 2024, Armenia's deficit amounted to around 3.75 percent of GDP.
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IMF. (April 22, 2025). Caucasus countries: Budget balance between 2019 to 2029 in relation to GDP [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 29, 2026, from /statistics/980488/caucasus-countries-budget-balance-in-relation-to-gdp/
IMF. "Caucasus countries: Budget balance between 2019 to 2029 in relation to GDP." Chart. April 22, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 29, 2026. /statistics/980488/caucasus-countries-budget-balance-in-relation-to-gdp/
IMF. (2025). Caucasus countries: Budget balance between 2019 to 2029 in relation to GDP. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 29, 2026. /statistics/980488/caucasus-countries-budget-balance-in-relation-to-gdp/
IMF. "Caucasus Countries: Budget Balance between 2019 to 2029 in Relation to Gdp." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 22 Apr 2025, /statistics/980488/caucasus-countries-budget-balance-in-relation-to-gdp/
IMF, Caucasus countries: Budget balance between 2019 to 2029 in relation to GDP ÌÇÐÄÆƽâ°æ, /statistics/980488/caucasus-countries-budget-balance-in-relation-to-gdp/ (last visited July 29, 2026)
Caucasus countries: Budget balance between 2019 to 2029 in relation to GDP [Graph], IMF, April 22, 2025. [Online]. Available: /statistics/980488/caucasus-countries-budget-balance-in-relation-to-gdp/
