Australia Net Incurrence of Liabilities: Total: % of GDP

Australia Net Incurrence of Liabilities: Total: % of GDP data was reported at 3.466 % in 2022. This records a decrease from the previous number of 6.452 % for 2021. Australia Net Incurrence of Liabilities: Total: % of GDP data is updated yearly, averaging 2.344 % from Jun 1972 (Median) to 2022, with 47 observations. The data reached an all-time high of 8.973 % in 2020 and a record low of -2.773 % in 1998. Australia Net Incurrence of Liabilities: Total: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Government Revenue, Expenditure and Finance. Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.;Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF);Weighted average;

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