Euro area government deficit at 3.6% and EU at 3.5% of GDP
Overview
In the euro area the government deficit to GDP ratio increased from 3.5% in 2022 to 3.6% in 2023, and in the EU from 3.2% to 3.5%. In the euro area the government debt to GDP ratio decreased from 89.5% at the end of 2022 to 87.4% at the end of 2023, and in the EU from 82.5% to 80.8%.
In this release, Eurostat, the statistical office of the European Union, is providing government deficit and debt data for the years 2020-2023, based on figures reported by EU Member States in the second notification in 2024, for the application of the excessive deficit procedure (EDP). This notification is based on the ESA 2010 system of national accounts. This release also includes data on government expenditure and revenue.
Deficit and debt data for Euro area and EU |
|||||
|---|---|---|---|---|---|
|
|
2020 |
2021 |
2022 |
2023 |
Euro area |
|
|
|
|
|
GDP market prices (mp) |
(million euro) |
11 615 193 |
12 612 909 |
13 724 008 |
14 594 602 |
Government deficit (-) / surplus (+) |
(million euro) |
-811 249 |
-642 415 |
-474 222 |
-521 399 |
% of GDP |
-7.0 |
-5.1 |
-3.5 |
-3.6 |
|
Government expenditure |
% of GDP |
53.6 |
52.0 |
50.0 |
49.5 |
Government revenue |
% of GDP |
46.6 |
46.9 |
46.5 |
45.9 |
Government debt |
(million euro) |
11 206 265 |
11 834 840 |
12 282 836 |
12 749 160 |
% of GDP |
96.5 |
93.8 |
89.5 |
87.4 |
|
EU |
|
|
|
|
|
GDP market prices (mp) |
(million euro) |
13 580 273 |
14 794 357 |
16 143 727 |
17 193 753 |
Government deficit (-) / surplus (+) |
(million euro) |
-907 318 |
-682 522 |
-518 040 |
-600 223 |
% of GDP |
-6.7 |
-4.6 |
-3.2 |
-3.5 |
|
Government expenditure |
% of GDP |
52.9 |
51.1 |
49.2 |
49.0 |
Government revenue |
% of GDP |
46.2 |
46.5 |
46.0 |
45.5 |
Government debt |
(million euro) |
12 150 032 |
12 828 561 |
13 313 682 |
13 895 588 |
% of GDP |
89.5 |
86.7 |
82.5 |
80.8 |
|
|
|||||
In 2023, all Member States, except Denmark (+3.3%), Cyprus (+2.0%), Ireland (+1.5%) and Portugal (+1.2%), reported a deficit. The highest deficits were recorded in Italy (‑7.2%), Hungary (-6.7%) and Romania (‑6.5%). Ten Member States had deficits higher than 3% of GDP.
At the end of 2023, the lowest ratios of government debt to GDP were recorded in Estonia (20.2%), Bulgaria (22.9%), Luxembourg (25.5%), Sweden (31.5%), Denmark (33.6%) and Lithuania (37.3%). Thirteen Member States had government debt ratios higher than 60% of GDP, with the highest registered in Greece (163.9%), Italy (134.8%), France (109.9%), Spain (105.1%) and Belgium (103.1%).
In 2023, government expenditure in the euro area was equivalent to 49.5% of GDP and government revenue to 45.9%. The figures for the EU were 49.0% and 45.5%, respectively. Government revenue and expenditure ratios decreased both in the euro area and the EU, compared to 2022.
Reservations on reported data
Eurostat is expressing a reservation on the quality of data reported by Estonia for 2023. Eurostat is discussing with the Estonian statistical authorities the appropriate time of recording of military expenditure, impacting the deficit by around 0.4% of GDP. Estonia is currently reporting this expenditure for later reference years.
Amendment by Eurostat to reported data
Eurostat has made no amendments to the data reported by Member States.
Tables
GDP, government deficit/surplus and debt in the EU |
|||||
|---|---|---|---|---|---|
2020 |
2021 |
2022 |
2023 |
||
Belgium |
|
|
|
|
|
GDP mp |
(million euro) |
463 751 |
506 023 |
563 544 |
596 321 |
Government deficit (-) / surplus (+) |
(million euro) |
-41 897 |
-27 305 |
-20 360 |
-24 970 |
(% of GDP) |
-9.0 |
-5.4 |
-3.6 |
-4.2 |
|
Government expenditure |
(% of GDP) |
58.5 |
54.9 |
52.2 |
53.3 |
Government revenue |
(% of GDP) |
49.4 |
49.5 |
48.6 |
49.1 |
Government debt |
(million euro) |
515 530 |
548 775 |
578 336 |
614 991 |
(% of GDP) |
111.2 |
108.4 |
102.6 |
103.1 |
|
memo: intergovernmental lending |
(million euro) |
8 783 |
8 744 |
8 567 |
8 357 |
(% of GDP) |
1.9 |
1.7 |
1.5 |
1.4 |
|
Bulgaria |
|
|
|
|
|
GDP mp |
(million BGN) |
121 088 |
139 602 |
168 360 |
185 233 |
Government deficit (-) / surplus (+) |
(million BGN) |
-4 590 |
-5 474 |
-4 856 |
-3 709 |
(% of GDP) |
-3.8 |
-3.9 |
-2.9 |
-2.0 |
|
Government expenditure |
(% of GDP) |
41.3 |
41.5 |
41.2 |
38.8 |
Government revenue |
(% of GDP) |
37.5 |
37.5 |
38.3 |
36.8 |
Government debt |
(million BGN) |
29 595 |
33 275 |
37 851 |
42 389 |
(% of GDP) |
24.4 |
23.8 |
22.5 |
22.9 |
|
memo: intergovernmental lending |
(million BGN) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Czechia |
|
|
|
|
|
GDP mp |
(million CZK) |
5 828 318 |
6 307 755 |
7 049 872 |
7 618 557 |
Government deficit (-) / surplus (+) |
(million CZK) |
-329 285 |
-312 308 |
-216 345 |
-288 082 |
(% of GDP) |
-5.6 |
-5.0 |
-3.1 |
-3.8 |
|
Government expenditure |
(% of GDP) |
46.3 |
45.0 |
43.0 |
43.9 |
Government revenue |
(% of GDP) |
40.6 |
40.1 |
39.9 |
40.1 |
Government debt |
(million CZK) |
2 149 655 |
2 566 752 |
2 997 632 |
3 234 002 |
(% of GDP) |
36.9 |
40.7 |
42.5 |
42.4 |
|
memo: intergovernmental lending |
(million CZK) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Denmark |
|
|
|
|
|
GDP mp |
(million DKK) |
2 326 592 |
2 567 520 |
2 844 228 |
2 804 742 |
Government deficit (-) / surplus (+) |
(million DKK) |
8 434 |
105 216 |
97 945 |
92 724 |
(% of GDP) |
0.4 |
4.1 |
3.4 |
3.3 |
|
Government expenditure |
(% of GDP) |
53.3 |
49.4 |
44.9 |
46.8 |
Government revenue |
(% of GDP) |
53.7 |
53.5 |
48.3 |
50.1 |
Government debt |
(million DKK) |
1 076 709 |
1 039 517 |
969 223 |
942 073 |
(% of GDP) |
46.3 |
40.5 |
34.1 |
33.6 |
|
memo: intergovernmental lending |
(million DKK) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Germany |
|
|
|
|
|
GDP mp |
(million euro) |
3 449 620 |
3 676 460 |
3 953 850 |
4 185 550 |
Government deficit (-) / surplus (+) |
(million euro) |
-151 132 |
-116 436 |
-84 875 |
-107 522 |
(% of GDP) |
-4.4 |
-3.2 |
-2.1 |
-2.6 |
|
Government expenditure |
(% of GDP) |
51.1 |
50.7 |
49.0 |
48.4 |
Government revenue |
(% of GDP) |
46.7 |
47.5 |
46.9 |
45.8 |
Government debt |
(million euro) |
2 346 955 |
2 502 817 |
2 569 897 |
2 631 777 |
(% of GDP) |
68.0 |
68.1 |
65.0 |
62.9 |
|
memo: intergovernmental lending |
(million euro) |
68 435 |
68 128 |
66 900 |
65 755 |
(% of GDP) |
2.0 |
1.9 |
1.7 |
1.6 |
|
Estonia |
|
|
|
|
|
GDP mp |
(million euro) |
27 859 |
31 456 |
36 443 |
38 188 |
Government deficit (-) / surplus (+) |
(million euro) |
-1 511 |
-808 |
-392 |
-1 088 |
(% of GDP) |
-5.4 |
-2.6 |
-1.1 |
-2.8 |
|
Government expenditure |
(% of GDP) |
44.7 |
42.1 |
40.0 |
43.3 |
Government revenue |
(% of GDP) |
39.3 |
39.5 |
38.9 |
40.4 |
Government debt |
(million euro) |
5 320 |
5 794 |
6 965 |
7 708 |
(% of GDP) |
19.1 |
18.4 |
19.1 |
20.2 |
|
memo: intergovernmental lending |
(million euro) |
477 |
480 |
482 |
481 |
(% of GDP) |
1.7 |
1.5 |
1.3 |
1.3 |
|
Ireland |
|
|
|
|
|
GDP mp |
(million euro) |
382 207 |
449 217 |
520 935 |
509 952 |
Government deficit (-) / surplus (+) |
(million euro) |
-18 649 |
-6 287 |
8 596 |
7 541 |
(% of GDP) |
-4.9 |
-1.4 |
1.7 |
1.5 |
|
Government expenditure |
(% of GDP) |
26.7 |
23.6 |
20.6 |
22.7 |
Government revenue |
(% of GDP) |
21.8 |
22.2 |
22.2 |
24.2 |
Government debt |
(million euro) |
217 885 |
236 127 |
224 780 |
220 724 |
(% of GDP) |
57.0 |
52.6 |
43.1 |
43.3 |
|
memo: intergovernmental lending |
(million euro) |
336 |
318 |
284 |
249 |
(% of GDP) |
0.1 |
0.1 |
0.1 |
0.0 |
|
Greece |
|
|
|
|
|
GDP mp |
(million euro) |
167 540 |
184 575 |
207 854 |
225 197 |
Government deficit (-) / surplus (+) |
(million euro) |
-16 019 |
-12 785 |
-5 104 |
-2 962 |
(% of GDP) |
-9.6 |
-6.9 |
-2.5 |
-1.3 |
|
Government expenditure |
(% of GDP) |
59.3 |
56.7 |
52.9 |
49.5 |
Government revenue |
(% of GDP) |
49.7 |
49.8 |
50.4 |
48.2 |
Government debt |
(million euro) |
350 798 |
364 141 |
368 005 |
369 099 |
(% of GDP) |
209.4 |
197.3 |
177.0 |
163.9 |
|
memo: intergovernmental lending |
(million euro) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Spain |
|
|
|
|
|
GDP mp |
(million euro) |
1 129 214 |
1 235 474 |
1 373 629 |
1 498 324 |
Government deficit (-) / surplus (+) |
(million euro) |
-111 897 |
-82 174 |
-63 105 |
-52 669 |
(% of GDP) |
-9.9 |
-6.7 |
-4.6 |
-3.5 |
|
Government expenditure |
(% of GDP) |
51.4 |
49.5 |
46.4 |
45.4 |
Government revenue |
(% of GDP) |
41.5 |
42.8 |
41.8 |
41.9 |
Government debt |
(million euro) |
1 346 916 |
1 429 404 |
1 504 105 |
1 575 374 |
(% of GDP) |
119.3 |
115.7 |
109.5 |
105.1 |
|
memo: intergovernmental lending |
(million euro) |
30 001 |
29 867 |
29 329 |
28 608 |
(% of GDP) |
2.7 |
2.4 |
2.1 |
1.9 |
|
France |
|
|
|
|
|
GDP mp |
(million euro) |
2 318 276 |
2 508 102 |
2 655 435 |
2 822 455 |
Government deficit (-) / surplus (+) |
(million euro) |
-207 084 |
-165 149 |
-125 774 |
-154 845 |
(% of GDP) |
-8.9 |
-6.6 |
-4.7 |
-5.5 |
|
Government expenditure |
(% of GDP) |
61.7 |
59.5 |
58.4 |
57.0 |
Government revenue |
(% of GDP) |
52.8 |
52.9 |
53.7 |
51.6 |
Government debt |
(million euro) |
2 662 105 |
2 826 726 |
2 953 624 |
3 101 376 |
(% of GDP) |
114.8 |
112.7 |
111.2 |
109.9 |
|
memo: intergovernmental lending |
(million euro) |
51 380 |
51 150 |
50 228 |
48 993 |
(% of GDP) |
2.2 |
2.0 |
1.9 |
1.7 |
|
Croatia |
|
|
|
|
|
GDP mp |
(million euro) |
50 747 |
58 347 |
67 615 |
78 048 |
Government deficit (-) / surplus (+) |
(million euro) |
-3 670 |
-1 489 |
95 |
-667 |
(% of GDP) |
-7.2 |
-2.6 |
0.1 |
-0.9 |
|
Government expenditure |
(% of GDP) |
53.7 |
48.1 |
44.9 |
46.6 |
Government revenue |
(% of GDP) |
46.4 |
45.5 |
45.0 |
45.8 |
Government debt |
(million euro) |
43 882 |
45 629 |
46 347 |
48 262 |
(% of GDP) |
86.5 |
78.2 |
68.5 |
61.8 |
|
memo: intergovernmental lending |
(million euro) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Italy |
|
|
|
|
|
GDP mp |
(million euro) |
1 670 012 |
1 842 507 |
1 997 055 |
2 128 001 |
Government deficit (-) / surplus (+) |
(million euro) |
-156 627 |
-163 130 |
-161 575 |
-152 735 |
(% of GDP) |
-9.4 |
-8.9 |
-8.1 |
-7.2 |
|
Government expenditure |
(% of GDP) |
56.8 |
56.0 |
54.9 |
53.8 |
Government revenue |
(% of GDP) |
47.4 |
47.2 |
46.8 |
46.6 |
Government debt |
(million euro) |
2 576 629 |
2 685 173 |
2 762 908 |
2 868 411 |
(% of GDP) |
154.3 |
145.7 |
138.3 |
134.8 |
|
memo: intergovernmental lending |
(million euro) |
45 135 |
44 932 |
44 122 |
43 037 |
(% of GDP) |
2.7 |
2.4 |
2.2 |
2.0 |
|
Cyprus |
|
|
|
|
|
GDP mp |
(million euro) |
22 374 |
25 680 |
29 416 |
31 340 |
Government deficit (-) / surplus (+) |
(million euro) |
-1 248 |
-422 |
778 |
632 |
(% of GDP) |
-5.6 |
-1.6 |
2.6 |
2.0 |
|
Government expenditure |
(% of GDP) |
45.9 |
42.6 |
37.9 |
41.9 |
Government revenue |
(% of GDP) |
40.4 |
41.0 |
40.6 |
43.9 |
Government debt |
(million euro) |
25 417 |
24 776 |
23 813 |
23 076 |
(% of GDP) |
113.6 |
96.5 |
81.0 |
73.6 |
|
memo: intergovernmental lending |
(million euro) |
366 |
364 |
355 |
343 |
(% of GDP) |
1.6 |
1.4 |
1.2 |
1.1 |
|
Latvia |
|
|
|
|
|
GDP mp |
(million euro) |
29 224 |
32 285 |
36 104 |
39 072 |
Government deficit (-) / surplus (+) |
(million euro) |
-1 195 |
-2 331 |
-1 754 |
-932 |
(% of GDP) |
-4.1 |
-7.2 |
-4.9 |
-2.4 |
|
Government expenditure |
(% of GDP) |
44.3 |
46.5 |
44.2 |
44.0 |
Government revenue |
(% of GDP) |
40.2 |
39.3 |
39.4 |
41.6 |
Government debt |
(million euro) |
12 870 |
14 810 |
16 039 |
17 579 |
(% of GDP) |
44.0 |
45.9 |
44.4 |
45.0 |
|
memo: intergovernmental lending |
(million euro) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Lithuania |
|
|
|
|
|
GDP mp |
(million euro) |
50 265 |
56 680 |
67 455 |
73 793 |
Government deficit (-) / surplus (+) |
(million euro) |
-3 185 |
-643 |
-477 |
-509 |
(% of GDP) |
-6.3 |
-1.1 |
-0.7 |
-0.7 |
|
Government expenditure |
(% of GDP) |
42.3 |
37.3 |
36.2 |
37.4 |
Government revenue |
(% of GDP) |
35.9 |
36.2 |
35.5 |
36.7 |
Government debt |
(million euro) |
23 062 |
24 535 |
25 672 |
27 558 |
(% of GDP) |
45.9 |
43.3 |
38.1 |
37.3 |
|
memo: intergovernmental lending |
(million euro) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Luxembourg |
|
|
|
|
|
GDP mp |
(million euro) |
64 524 |
72 361 |
77 529 |
79 310 |
Government deficit (-) / surplus (+) |
(million euro) |
-1 995 |
734 |
149 |
-552 |
(% of GDP) |
-3.1 |
1.0 |
0.2 |
-0.7 |
|
Government expenditure |
(% of GDP) |
47.0 |
42.8 |
43.8 |
47.9 |
Government revenue |
(% of GDP) |
43.9 |
43.8 |
44.0 |
47.2 |
Government debt |
(million euro) |
15 799 |
17 637 |
19 078 |
20 262 |
(% of GDP) |
24.5 |
24.4 |
24.6 |
25.5 |
|
memo: intergovernmental lending |
(million euro) |
670 |
667 |
656 |
640 |
(% of GDP) |
1.0 |
0.9 |
0.8 |
0.8 |
|
Hungary |
|
|
|
|
|
GDP mp |
(million HUF) |
48 807 766 |
55 556 986 |
66 165 628 |
75 086 595 |
Government deficit (-) / surplus (+) |
(million HUF) |
-3 654 169 |
-3 948 634 |
-4 099 463 |
-5 035 116 |
(% of GDP) |
-7.5 |
-7.1 |
-6.2 |
-6.7 |
|
Government expenditure |
(% of GDP) |
51.0 |
48.1 |
48.7 |
49.5 |
Government revenue |
(% of GDP) |
43.5 |
41.0 |
42.5 |
42.8 |
Government debt |
(million HUF) |
38 405 164 |
42 345 189 |
48 858 637 |
55 142 098 |
(% of GDP) |
78.7 |
76.2 |
73.8 |
73.4 |
|
memo: intergovernmental lending |
(million HUF) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Malta |
|
|
|
|
|
GDP mp |
(million euro) |
14 346 |
16 672 |
18 242 |
20 650 |
Government deficit (-) / surplus (+) |
(million euro) |
-1 253 |
-1 160 |
-954 |
-939 |
(% of GDP) |
-8.7 |
-7.0 |
-5.2 |
-4.5 |
|
Government expenditure |
(% of GDP) |
42.1 |
39.5 |
37.8 |
36.3 |
Government revenue |
(% of GDP) |
33.4 |
32.5 |
32.5 |
31.8 |
Government debt |
(million euro) |
6 983 |
8 273 |
9 011 |
9 791 |
(% of GDP) |
48.7 |
49.6 |
49.4 |
47.4 |
|
memo: intergovernmental lending |
(million euro) |
228 |
227 |
223 |
218 |
(% of GDP) |
1.6 |
1.4 |
1.2 |
1.1 |
|
Netherlands |
|
|
|
|
|
GDP mp |
(million euro) |
816 463 |
891 550 |
993 820 |
1 067 599 |
Government deficit (-) / surplus (+) |
(million euro) |
-29 457 |
-19 599 |
115 |
-3 820 |
(% of GDP) |
-3.6 |
-2.2 |
0.0 |
-0.4 |
|
Government expenditure |
(% of GDP) |
47.8 |
45.9 |
43.2 |
43.2 |
Government revenue |
(% of GDP) |
44.2 |
43.7 |
43.3 |
42.8 |
Government debt |
(million euro) |
435 565 |
449 620 |
480 465 |
481 468 |
(% of GDP) |
53.3 |
50.4 |
48.3 |
45.1 |
|
memo: intergovernmental lending |
(million euro) |
14 409 |
14 345 |
14 086 |
13 740 |
(% of GDP) |
1.8 |
1.6 |
1.4 |
1.3 |
|
Austria |
|
|
|
|
|
GDP mp |
(million euro) |
380 318 |
406 232 |
448 007 |
473 227 |
Government deficit (-) / surplus (+) |
(million euro) |
-31 203 |
-23 129 |
-14 814 |
-12 398 |
(% of GDP) |
-8.2 |
-5.7 |
-3.3 |
-2.6 |
|
Government expenditure |
(% of GDP) |
57.3 |
56.0 |
53.0 |
52.7 |
Government revenue |
(% of GDP) |
49.1 |
50.3 |
49.7 |
50.1 |
Government debt |
(million euro) |
316 360 |
334 713 |
351 129 |
371 729 |
(% of GDP) |
83.2 |
82.4 |
78.4 |
78.6 |
|
memo: intergovernmental lending |
(million euro) |
7 015 |
6 984 |
6 858 |
6 689 |
(% of GDP) |
1.8 |
1.7 |
1.5 |
1.4 |
|
Poland |
|
|
|
|
|
GDP mp |
(million PLN) |
2 362 909 |
2 661 518 |
3 100 850 |
3 401 610 |
Government deficit (-) / surplus (+) |
(million PLN) |
-161 932 |
-46 458 |
-106 498 |
-179 935 |
(% of GDP) |
-6.9 |
-1.7 |
-3.4 |
-5.3 |
|
Government expenditure |
(% of GDP) |
47.7 |
43.6 |
43.3 |
47.0 |
Government revenue |
(% of GDP) |
40.9 |
41.8 |
39.8 |
41.8 |
Government debt |
(million PLN) |
1 337 044 |
1 410 966 |
1 512 778 |
1 691 216 |
(% of GDP) |
56.6 |
53.0 |
48.8 |
49.7 |
|
memo: intergovernmental lending |
(million PLN) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Portugal |
|
|
|
|
|
GDP mp |
(million euro) |
201 033 |
216 494 |
243 957 |
267 384 |
Government deficit (-) / surplus (+) |
(million euro) |
-11 564 |
-6 117 |
-757 |
3 247 |
(% of GDP) |
-5.8 |
-2.8 |
-0.3 |
1.2 |
|
Government expenditure |
(% of GDP) |
49.1 |
47.3 |
43.9 |
42.4 |
Government revenue |
(% of GDP) |
43.4 |
44.5 |
43.6 |
43.6 |
Government debt |
(million euro) |
269 578 |
268 189 |
271 358 |
261 849 |
(% of GDP) |
134.1 |
123.9 |
111.2 |
97.9 |
|
memo: intergovernmental lending |
(million euro) |
1 101 |
1 054 |
953 |
852 |
(% of GDP) |
0.5 |
0.5 |
0.4 |
0.3 |
|
Romania |
|
|
|
|
|
GDP mp |
(million RON) |
1 069 629 |
1 192 285 |
1 389 450 |
1 604 554 |
Government deficit (-) / surplus (+) |
(million RON) |
-98 471 |
-85 099 |
-88 653 |
-104 850 |
(% of GDP) |
-9.2 |
-7.1 |
-6.4 |
-6.5 |
|
Government expenditure |
(% of GDP) |
41.5 |
39.7 |
40.4 |
40.3 |
Government revenue |
(% of GDP) |
32.3 |
32.6 |
34.0 |
33.7 |
Government debt |
(million RON) |
498 571 |
576 339 |
665 491 |
784 396 |
(% of GDP) |
46.6 |
48.3 |
47.9 |
48.9 |
|
memo: intergovernmental lending |
(million RON) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Slovenia |
|
|
|
|
|
GDP mp |
(million euro) |
46 739 |
52 023 |
56 909 |
63 951 |
Government deficit (-) / surplus (+) |
(million euro) |
-3 588 |
-2 399 |
-1 715 |
-1 640 |
(% of GDP) |
-7.7 |
-4.6 |
-3.0 |
-2.6 |
|
Government expenditure |
(% of GDP) |
51.8 |
49.9 |
47.7 |
46.5 |
Government revenue |
(% of GDP) |
44.1 |
45.3 |
44.6 |
43.9 |
Government debt |
(million euro) |
37 470 |
38 930 |
41 395 |
43 739 |
(% of GDP) |
80.2 |
74.8 |
72.7 |
68.4 |
|
memo: intergovernmental lending |
(million euro) |
1 188 |
1 182 |
1 161 |
1 133 |
(% of GDP) |
2.5 |
2.3 |
2.0 |
1.8 |
|
Slovakia |
|
|
|
|
|
GDP mp |
(million euro) |
94 321 |
101 960 |
110 089 |
122 919 |
Government deficit (-) / surplus (+) |
(million euro) |
-4 995 |
-5 187 |
-1 838 |
-6 399 |
(% of GDP) |
-5.3 |
-5.1 |
-1.7 |
-5.2 |
|
Government expenditure |
(% of GDP) |
44.5 |
44.9 |
43.0 |
48.5 |
Government revenue |
(% of GDP) |
39.2 |
39.8 |
41.3 |
43.3 |
Government debt |
(million euro) |
55 091 |
61 346 |
63 499 |
68 898 |
(% of GDP) |
58.4 |
60.2 |
57.7 |
56.1 |
|
memo: intergovernmental lending |
(million euro) |
1 956 |
1 967 |
1 978 |
1 973 |
(% of GDP) |
2.1 |
1.9 |
1.8 |
1.6 |
|
Finland |
|
|
|
|
|
GDP mp |
(million euro) |
236 387 |
248 764 |
266 124 |
273 320 |
Government deficit (-) / surplus (+) |
(million euro) |
-13 082 |
-6 598 |
-462 |
-8 171 |
(% of GDP) |
-5.5 |
-2.7 |
-0.2 |
-3.0 |
|
Government expenditure |
(% of GDP) |
56.5 |
55.1 |
52.6 |
55.7 |
Government revenue |
(% of GDP) |
50.9 |
52.5 |
52.5 |
52.8 |
Government debt |
(million euro) |
178 148 |
182 213 |
197 022 |
210 866 |
(% of GDP) |
75.4 |
73.2 |
74.0 |
77.1 |
|
memo: intergovernmental lending |
(million euro) |
4 530 |
4 510 |
4 429 |
4 320 |
(% of GDP) |
1.9 |
1.8 |
1.7 |
1.6 |
|
Sweden |
|
|
|
|
|
GDP mp |
(million SEK) |
5 020 978 |
5 464 876 |
5 865 211 |
6 206 525 |
Government deficit (-) / surplus (+) |
(million SEK) |
-159 416 |
-8 048 |
58 326 |
-38 719 |
(% of GDP) |
-3.2 |
-0.1 |
1.0 |
-0.6 |
|
Government expenditure |
(% of GDP) |
53.0 |
49.9 |
48.9 |
49.5 |
Government revenue |
(% of GDP) |
49.8 |
49.8 |
49.9 |
48.8 |
Government debt |
(million SEK) |
2 015 370 |
2 004 815 |
1 972 413 |
1 954 397 |
(% of GDP) |
40.1 |
36.7 |
33.6 |
31.5 |
|
memo: intergovernmental lending |
(million SEK) |
0 |
0 |
0 |
0 |
(% of GDP) |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
|||||
Notes for users
Revisions and timetable
In the previous provision of data for the excessive deficit procedure, the 2023 government deficit for the euro area was 3.6% of GDP, for the EU it was 3.5%, and the government debt was 88.6% of GDP for the euro area and 81.7% for the EU. See News release of 22 April 2024.
Methods and definitions
According to Article 14 (1) of Council Regulation (EC) 479/2009, Eurostat publishes the actual government deficit and debt data for the application of the Protocol on the excessive deficit procedure, within three weeks after the reporting deadlines.
The Protocol on the excessive deficit procedure annexed to the EC Treaty, defines government deficit (surplus) as the net borrowing (net lending) of the whole general government sector (central government, state government, local government and social security funds). It is calculated according to national accounts concepts (European System of Accounts, ESA 2010). Government debt (commonly known as Maastricht or EDP debt) is the consolidated gross debt of the whole general government sector outstanding at the end of the year (at nominal value).
Table of euro area and EU aggregates: the data are in euro. For those countries not belonging to the euro area, the rate of conversion into euro is as follows:
- for deficit / surplus and GDP data, the annual average exchange rate;
- for the stock of government debt, the end of year exchange rate.
Table of national data: the data are in national currencies.
General government total expenditure and revenue are reported to Eurostat under the ESA 2010 transmission programme. They cover non-financial transactions of general government, and include both current and capital transactions. For definitions, see Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.
Intergovernmental lending
For the purpose of consolidation of general government debt in European aggregates and to provide users with information, Eurostat is collecting and publishing data on government loans to other EU governments, including those made through the European Financial Stability Facility (EFSF). For the years 2020 to 2023 the intergovernmental lending figures relate mainly to lending to Greece, Ireland and Portugal.
Valuation of debt instruments
The methodological change as regards the statistical recording of deferred interest on EFSF loans, for EDP purposes, was implemented by Greece, following Eurostat’s advice. This change also affected the EFSF guarantors.
Reservations and amendments
The term “reservations” is defined in article 15 (1) of Council Regulation (EC) 479/2009. The Commission (Eurostat) expresses reservations when it has doubts on the quality of the reported data.
According to Article 15 (2) of Council Regulation (EC) 479/2009, the Commission (Eurostat) may amend actual data reported by Member States and provide the amended data and a justification of the amendment where there is evidence that actual data reported by Member States do not comply with the quality requirements (compliance with accounting rules, completeness, reliability, timeliness and consistency of statistical data).
Geographical information
Euro area (EA20): Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
European Union (EU27): Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.
For more information
For further information on the methodology of statistics reported under the excessive deficit procedure, please see the Eurostat publication "Manual on Government Deficit and Debt - Implementation of ESA 2010 - 2022 edition", published in February 2023.
Note on main revisions: Eurostat publishes on its website a note containing specific explanations of the largest revisions in deficit and debt for 2020-2023 between the April and October 2024 notifications, as well as in GDP.
Background note and supplementary tables on government interventions to support financial institutions: Eurostat publishes supplementary tables by Member State on the impact of the government support to financial institutions on its website. Eurostat also publishes a background note providing further information on the supplementary tables, including summary tables for the EU and the euro area. Table 2 of the background note shows government deficit/surplus data for 2022 and 2023 excluding the impacts of government interventions to support financial institutions. It should be noted that this adjusted measure of government deficit/surplus is only intended to be an improvement in the presentation of data for users.
Stock of liabilities of trade credits and advances: Eurostat publishes on its website, as complementary information on government liabilities, data on trade credits and advances, as reported by Member States for the years 2020 to 2023. According to Council Regulation (EC) 479/2009, the liabilities in trade credits and advances of government units are not part of EDP debt.
Stock-flow adjustment: Eurostat also publishes a note on the stock-flow adjustment which presents the contribution of deficit/surplus as well as other relevant factors to the variation in the debt level.
Eurostat will also be releasing information on the underlying government sector accounts on the government finance and EDP statistics section on its website.
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