General Government Total Expenditure for Barbados
BRBGGXGDP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.07
Year-over-Year Change
-12.98%
Date Range
1/1/2011 - 1/1/2024
Summary
The General Government Total Expenditure for Barbados measures the total spending by the government, including both current and capital outlays. This metric is crucial for economists and policymakers to assess the fiscal health and policy stance of the Barbadian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the total expenditure by the general government of Barbados, which encompasses both current and capital spending. It is a key indicator of the size and scope of government activity, and is used to evaluate fiscal policy, budget deficits, and the government's role in the national economy.
Methodology
The data is collected and reported by the Barbados Statistical Service based on government financial records.
Historical Context
Economists and policymakers monitor this trend to gauge the government's fiscal policy and its potential impact on economic growth, inflation, and other macroeconomic variables.
Key Facts
- Barbados' general government expenditure averaged 29.9% of GDP from 2010-2019.
- Government spending peaked at 34.7% of GDP in 2020 due to the COVID-19 pandemic.
- Barbados has sought to reduce its fiscal deficit in recent years through spending cuts and revenue reforms.
FAQs
Q: What does this economic trend measure?
A: The General Government Total Expenditure for Barbados measures the total spending by the Barbadian government, including both current and capital outlays.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for economists and policymakers to assess the fiscal health and policy stance of the Barbadian economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Barbados Statistical Service based on government financial records.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to gauge the government's fiscal policy and its potential impact on economic growth, inflation, and other macroeconomic variables.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule of the Barbados Statistical Service, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, General Government Total Expenditure for Barbados (BRBGGXGDP), retrieved from FRED.