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Financial News: Eurozone Govt Deficit Narrows In 2017

Eurozone Govt Deficit Narrows In 2017

04/23/2018 - 05:59:00 (RTTNews)

(RTTNews) - The euro area government deficit narrowed in 2017, data published by Eurostat showed Monday.

The government deficit to GDP ratio fell to 0.9 percent from 1.5 percent in 2016. The government deficit totaled EUR 98.92 billion compared to EUR 159.01 billion last year.

In the EU28, the deficit to GDP dropped to 1 percent from 1.6 percent in the prior year.

Germany logged a budget surplus of 1.3 percent of GDP. Meanwhile, France registered a deficit of 2.6 percent of GDP. In Italy, the shortfall was 2.3 percent of GDP.

Two member states had deficits equal to or higher than 3 percent of GDP, namely Spain and Portugal. At the end of 2017, the lowest ratio of government debt to GDP was recorded in Estonia.

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