Primary net lending/borrowing (also referred as primary balance) (% of GDP) - GGXONLB_G01_GDP_PT

Data - IMF

Info

Last observation: A: 2030 (N = 196)

First observation: A: 1991 (N = 82)

Last data update: 01 aoû 2026, 21:40. Last compile: 17 aoû 2026, 23:11

FREQ

GGXONLB_G01_GDP_PT |>
  left_join(FREQ, by =  "FREQ") |>
  group_by(FREQ, Freq) |>
  summarise(Nobs = n()) |>
  arrange(-Nobs) |>
  print_table_conditional()

FREQ	Freq	Nobs
A	Annual	7243

REF_AREA

GGXONLB_G01_GDP_PT |>
  left_join(REF_AREA, by = "REF_AREA") |>
  group_by(REF_AREA, Ref_area) |>
  summarise(Nobs = n()) |>
  arrange(-Nobs) |>
  mutate(Flag = gsub(" ", "-", str_to_lower(gsub(" ", "-", Ref_area))),
         Flag = paste0('<img src="../../icon/flag/vsmall/', Flag, '.png" alt="Flag">')) |>
  select(Flag, everything()) %>%
  {if (is_html_output()) datatable(., filter = 'top', rownames = F, escape = F) else .}

TIME_PERIOD

GGXONLB_G01_GDP_PT |>
  group_by(TIME_PERIOD) |>
  summarise(Nobs = n()) |>
  arrange(desc(TIME_PERIOD)) |>
  print_table_conditional()

Table

2018

GGXONLB_G01_GDP_PT |>
  filter(INDICATOR == "GGXONLB_G01_GDP_PT",
         TIME_PERIOD == "2018") |>
  left_join(REF_AREA, by = "REF_AREA") |>
  select(REF_AREA, Ref_area, OBS_VALUE) %>%
  mutate_at(vars(3), funs(paste0(round(as.numeric(.), 1), " %"))) |>
  mutate(Flag = gsub(" ", "-", str_to_lower(gsub(" ", "-", Ref_area))),
         Flag = paste0('<img src="../../icon/flag/vsmall/', Flag, '.png" alt="Flag">')) |>
  select(Flag, everything()) %>%
  {if (is_html_output()) datatable(., filter = 'top', rownames = F, escape = F) else .}

1995-2019 Average

GGXONLB_G01_GDP_PT |>
  year_to_date2() |>
  filter(date >= as.Date("1995-01-01"),
         date <= as.Date("2019-01-01")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  group_by(REF_AREA, Ref_area) |>
  summarise(`Average Primary Surplus (1995-2019)` = mean(OBS_VALUE)) |>
  arrange(-`Average Primary Surplus (1995-2019)`) %>%
  mutate_at(vars(3), funs(paste0(round(as.numeric(.), 3), " %"))) |>
  mutate(Flag = gsub(" ", "-", str_to_lower(gsub(" ", "-", Ref_area))),
         Flag = paste0('<img src="../../icon/flag/vsmall/', Flag, '.png" alt="Flag">')) |>
  select(Flag, everything()) %>%
  {if (is_html_output()) datatable(., filter = 'top', rownames = F, escape = F) else .}

3 countries

Italy, France, Germany

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  #filter(date <= as.Date("2021-01-01")) %>%
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

Australia, United Kingdom, United States

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("GB", "US", "AU")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(color = ifelse(REF_AREA == "US", color2, color)) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  #filter(date <= as.Date("2021-01-01")) %>%
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

Euro Area, United States, France

All

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("U2", "US", "FR")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  mutate(Ref_area = ifelse(REF_AREA == "U2", "Europe", Ref_area)) |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(color = ifelse(REF_AREA == "US", color2, color)) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  #filter(date <= as.Date("2021-01-01")) %>%
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

2010-

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("U2", "US", "FR")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  mutate(Ref_area = ifelse(REF_AREA == "U2", "Europe", Ref_area)) |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(color = ifelse(REF_AREA == "US", color2, color)) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("2010-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

Italy, France, Germany, Spain, United States, EU

2000-

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US", "U2")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  mutate(Ref_area = ifelse(REF_AREA == "U2", "Europe", Ref_area)) |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("2000-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

2010-

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US", "U2")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  mutate(Ref_area = ifelse(REF_AREA == "U2", "Europe", Ref_area)) |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("2010-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

2015-

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US", "U2")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  mutate(Ref_area = ifelse(REF_AREA == "U2", "Europe", Ref_area)) |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("2015-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 1) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

Italy, France, Germany, Spain, United States

1990-

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  #filter(date <= as.Date("2021-01-01")) %>%
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

1995-

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("1995-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

2000-

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("2000-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

2010-

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("2010-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

1995-2021

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date <= as.Date("2021-01-01"),
         date >= as.Date("1995-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Déficit primaire, % du PIB") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

France, Germany, United States, Euro Area

Primary deficits

GGXONLB_G01_GDP_PT |>
  filter(REF_AREA %in% c("FR", "DE", "US", "U2")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  mutate(Ref_area = ifelse(REF_AREA == "U2", "Europe", Ref_area)) |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  #filter(date <= as.Date("2021-01-01")) %>%
  mutate(color = ifelse(REF_AREA == "U2", color2, color)) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Primary Deficit, % of GDP") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

Interest payments

France, Germany, United States, Euro Area

All

GGXONLB_G01_GDP_PT2 |>
  filter(REF_AREA %in% c("FR", "DE", "US", "U2")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  mutate(Ref_area = ifelse(REF_AREA == "U2", "Europe", Ref_area)) |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  #filter(date <= as.Date("2021-01-01")) %>%
  mutate(color = ifelse(REF_AREA == "U2", color2, color)) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Interest Payments, % of GDP") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

2010-

GGXONLB_G01_GDP_PT2 |>
  filter(REF_AREA %in% c("FR", "DE", "US", "U2")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  mutate(Ref_area = ifelse(REF_AREA == "U2", "Europe", Ref_area)) |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("2010-01-01")) |>
  mutate(color = ifelse(REF_AREA == "U2", color2, color)) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Interest Payments, % of GDP") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

Italy, France, Germany, Spain, United States

All

GGXONLB_G01_GDP_PT2 |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  #filter(date <= as.Date("2021-01-01")) %>%
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Interest Payments, % du GDP") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 5) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

2010-

GGXONLB_G01_GDP_PT2 |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date >= as.Date("2010-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Interest Payments, % du GDP") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 2) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

2005-2015

GGXONLB_G01_GDP_PT2 |>
  filter(REF_AREA %in% c("IT", "FR", "DE", "ES", "US")) |>
  left_join(REF_AREA, by = "REF_AREA") |>
  year_to_date2() |>
  left_join(colors, by = c("Ref_area" = "country")) |>
  mutate(OBS_VALUE = OBS_VALUE/100) |>
  rename(Counterpart_area = Ref_area) |>
  filter(date <= as.Date("2015-01-01"),
         date >= as.Date("2005-01-01")) |>
  ggplot() + geom_line(aes(x = date, y = OBS_VALUE, color = color)) + 
  theme_minimal() + xlab("") + ylab("Interest Payments, % du GDP") +
  scale_color_identity() + add_flags +
  scale_x_date(breaks = seq(1920, 2100, 1) |> paste0("-01-01") |> as.Date(),
               labels = date_format("%Y")) +
  scale_y_continuous(breaks = 0.01*seq(-60, 60, 1),
                     labels = scales::percent_format(accuracy = 1)) +
  geom_hline(yintercept = 0, linetype = "dashed", color = "black")

Related Data

Data on public debt

source	dataset	Title	Updated
imf	GGXONLB_G01_GDP_PT	Primary net lending/borrowing (also referred as primary balance) (% of GDP)	2026-08-01
eurostat	ei_mfir_m	Interest rates - monthly data	2026-08-14
eurostat	gov_10q_ggdebt	Quarterly government debt	2026-08-14
fred	r	Interest Rates	2026-08-16
fred	saving	Saving - saving	2026-08-16
gfd	debt	Debt	2021-08-22
imf	FM	Fiscal Monitor (FM)	2026-07-25
imf	GGXCNL_G01_GDP_PT	Net lending/borrowing (also referred as overall balance) (% of GDP)	2026-08-01
imf	GGXWDN_G01_GDP_PT	Net debt (% of GDP)	2026-08-01
imf	HPDD	NA	NA
oecd	QASA_TABLE7PSD	Quarterly Sector Accounts - Public Sector Debt, consolidated, nominal value	2026-08-02
wdi	GC.DOD.TOTL.GD.ZS	Central government debt, total (% of GDP)	2026-08-16
wdi	GC.XPN.INTP.CN	Interest payments (current LCU)	2026-08-16
wdi	GC.XPN.INTP.RV.ZS	Interest payments (% of revenue)	2026-08-16
wdi	GC.XPN.INTP.ZS	Interest payments (% of expense)	2026-08-16