Fiscal Balance Across APAC

India runs one of the widest fiscal deficits among major APAC economies, with levels significantly higher than most regional peers. While countries such as Singapore and the UAE maintain surpluses and others like China and Hong Kong operate with moderate deficits, India’s position reflects a continued reliance on fiscal support to drive growth. The broader picture is uneven, highlighting sharp differences in fiscal space across the region and the varying ability of governments to balance growth with consolidation.

For a deeper regional view, see IMA India’s inaugural quarterly APAC Watch.

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IMA India’s Decoding India is a data-led series that explores the metrics shaping India’s economic and business landscape, presented through comparative visuals across Indian states or peer economies. The aim is simple: to make India’s progress easier to understand at a glance and to surface insights that matter for decision-makers.