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Madagascar state budget
The Treasury operations published by INSTAT (DGT/MEF data): revenue, expenditure and the overall balance, in execution.
In 2025, the Malagasy State's total revenue and grants reached 9,479 billion ariary and total expenditure 12,619 billion ariary, an overall cash-basis balance of -1,801 billion ariary. Source: INSTAT (Treasury operations, DGT/MEF data).
Total revenue and grants
9,479 bn Ar
Year 2025, full execution
Total expenditure
12,619 bn Ar
Year 2025, full execution
Overall balance (cash basis)
-1,801 bn Ar
Year 2025, full execution
2024 budget balance as a share of GDP
-2.7 % of GDP
The overall cash-basis balance of 2024 over the same year's GDP at current prices. Computed only when both official figures for the same year are published.
State revenue, cumulative
Total revenue and grants, in billion ariary, cumulative since January (the series resets each year). Source: INSTAT (Treasury operations, DGT/MEF data).
Show the monthly values
| Month | Total revenue and grants | Total expenditure | Overall balance (cash basis) |
|---|---|---|---|
| 2025-12-01 | 9,479 | 12,619 | -1,801 |
| 2025-11-01 | 8,663 | 10,892 | -904 |
| 2025-10-01 | 8,790 | 10,017 | -900 |
| 2025-09-01 | 7,938 | 9,291 | -1,037 |
| 2025-08-01 | 7,106 | 8,479 | -1,046 |
| 2025-07-01 | 6,327 | 7,603 | -934 |
| 2025-06-01 | 5,574 | 6,882 | -822 |
| 2025-05-01 | 4,246 | 5,375 | -636 |
| 2025-04-01 | 3,415 | 4,457 | -518 |
| 2025-03-01 | 2,603 | 3,012 | -503 |
| 2025-02-01 | 1,500 | 1,641 | -103 |
| 2025-01-01 | 771 | 854 | -77 |
| 2024-12-01 | 10,689 | 12,690 | -2,120 |
Method and source
The figures come from the Treasury operations (State revenue and expenditure in execution, DGT/MEF data) published in INSTAT's economic dashboard. The source publishes cumulative figures since January: the December point is the year's total, and it is shown as such. The balance-to-GDP ratio crosses that total with the same year's GDP at current prices. Indicative figures, not contractual.
Source: Institut National de la Statistique (INSTAT), DGT/MEF data
API access
Revenue, expenditure and the balance are available as JSON, for your services and your agents.
- Total revenue and grants
GET https://api.stileex.xyz/v1/series/mg/state-revenue/latest- Total expenditure
GET https://api.stileex.xyz/v1/series/mg/state-expenditure/latest- Overall balance (cash basis)
GET https://api.stileex.xyz/v1/series/mg/budget-balance/latest
Frequently asked questions
- What is the Malagasy State's revenue?
- Total revenue and grants for the latest published period are shown at the top of this page, in billion ariary, with their time frame (full year or cumulative since January).
- What is Madagascar's budget deficit?
- The overall cash-basis balance is shown at the top of this page. The Stileex indicator relates it to the same year's GDP, as soon as both official figures are published.
- Why are the figures cumulative?
- The source publishes the Treasury operations cumulatively since January. The December point is therefore the year's total; intermediate points are partial cumulative readings, shown as such.
- Is this data available via API?
- Yes. Revenue, expenditure and the balance are exposed as JSON on api.stileex.xyz/v1/series/mg/state-revenue/latest, for your services and your agents.