Financial News: Eurozone Government Deficit To GDP Falls Slightly

Eurozone Government Deficit To GDP Falls Slightly

04/22/2024 - 09:30:00 (RTTNews)

(RTTNews) - The government deficit to GDP ratio in the euro area dropped slightly in 2023, data from Eurostat showed on Monday.

The government deficit to GDP came in at 3.6 percent in 2023, which was down from 3.7 percent in 2022. However, it remained above the 3.0 percent threshold.

On the other hand, the ratio in the EU rose to 3.5 percent from 3.4 percent.

Further, data showed that the government debt to GDP dropped to 88.6 percent at the end of 2023 from 90.8 percent in 2022. In the EU, debt to GDP slid to 81.7 percent from 83.4 percent.

In 2023, all member states, except Cyprus, Denmark, Ireland and Portugal reported a deficit.

Meanwhile, Italy reported the highest deficit, followed by Hungary and Romania. Eleven member states had deficits higher than 3 percent of GDP.

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