During the financial crisis of 2007-2008 and the subsequent recession, many of the world's largest countries increased their government expenditure in order to backstop financial markets, provide a stimulus to the non-financial economy, or to bail-out companies and institutions which were in danger of bankruptcy. China and the United States led the way in stimulus spending, as the Chinese announced a package worth 600 billion U.S. dollars in 2008, while the Troubled Asset Relief Program (TARP) and the American Recovery and Reinvestment Act (ARRA) in the U.S. had a combined announced value of around 1.5 trillion U.S. dollars. The increase in China's government expenditure was particularly notable, as it represented an increase of almost one-third from 2007 to 2009.
Annual general government expenditure as a percentage of gross domestic product (GDP) for selected major economies during the Great Recession from 2007 to 2011
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
IMF. (October 1, 2022). Annual general government expenditure as a percentage of gross domestic product (GDP) for selected major economies during the Great Recession from 2007 to 2011 [Graph]. In Statista. Retrieved December 14, 2024, from https://www.statista.com/statistics/1349349/great-recession-government-expenditure-gdp-major-economies/
IMF. "Annual general government expenditure as a percentage of gross domestic product (GDP) for selected major economies during the Great Recession from 2007 to 2011." Chart. October 1, 2022. Statista. Accessed December 14, 2024. https://www.statista.com/statistics/1349349/great-recession-government-expenditure-gdp-major-economies/
IMF. (2022). Annual general government expenditure as a percentage of gross domestic product (GDP) for selected major economies during the Great Recession from 2007 to 2011. Statista. Statista Inc.. Accessed: December 14, 2024. https://www.statista.com/statistics/1349349/great-recession-government-expenditure-gdp-major-economies/
IMF. "Annual General Government Expenditure as a Percentage of Gross Domestic Product (Gdp) for Selected Major Economies during The Great Recession from 2007 to 2011." Statista, Statista Inc., 1 Oct 2022, https://www.statista.com/statistics/1349349/great-recession-government-expenditure-gdp-major-economies/
IMF, Annual general government expenditure as a percentage of gross domestic product (GDP) for selected major economies during the Great Recession from 2007 to 2011 Statista, https://www.statista.com/statistics/1349349/great-recession-government-expenditure-gdp-major-economies/ (last visited December 14, 2024)
Annual general government expenditure as a percentage of gross domestic product (GDP) for selected major economies during the Great Recession from 2007 to 2011 [Graph], IMF, October 1, 2022. [Online]. Available: https://www.statista.com/statistics/1349349/great-recession-government-expenditure-gdp-major-economies/