São Tomé and Príncipe: public finances

Does São Tomé and Príncipe have a budget deficit?

São Tomé and Príncipe recorded a zero primary balance in 2024, for the first time in several decades, and a primary surplus of about 0.5% of GDP was projected for 2025, according to the Governor's annual address for 2025 published by the Central Bank of São Tomé and Príncipe.

The primary balance leaves out interest payments, so it shows whether the Government covers its day-to-day spending. The Governor said this has helped bring down external debt relative to GDP, but debt service is under pressure as grace periods on past loans end and foreign currency earnings stay low.

Official sources: Central Bank of São Tomé and Príncipe: Governor's annual address 2025 (PDF, in Portuguese)

What is São Tomé and Príncipe's government debt?

The IMF puts general government gross debt in São Tomé and Príncipe at 59.1% of GDP in 2025. It is the bottom of the series, which starts in 2005. It is 19th highest of 46 in Sub-Saharan Africa, where the median is 53.0% of GDP. Worldwide: 78th of 185.

What is São Tomé and Príncipe's fiscal deficit?

The latest figure from the IMF, for 2025, is -3.4% of GDP (a deficit). The peak was 125.1% of GDP in 2007 and the low -18.0% of GDP in 2009. Sub-Saharan Africa median: -3.0% of GDP; São Tomé and Príncipe is 28th highest of 47. World rank, highest first: 113th of 188.

How much revenue does São Tomé and Príncipe's government raise?

In 2025, general government revenue in São Tomé and Príncipe was 18.6% of GDP, according to the IMF. No year since 2005 has been lower. Sub-Saharan Africa median: 18.4% of GDP; São Tomé and Príncipe is 22nd highest of 47. World rank, highest first: 139th of 187.

What is São Tomé and Príncipe's government spending?

According to the IMF, general government spending in São Tomé and Príncipe was 22.1% of GDP in 2025. It is the bottom of the series, which starts in 2005. Across Sub-Saharan Africa the middle value was 20.8% of GDP, and São Tomé and Príncipe placed 21st highest of 46. Of 186 countries with 2025 data, 132nd highest.