Seasonally adjusted government deficit at 3.3% of GDP in the euro area and 3.2% of GDP in the EU
In the third quarter of 2022, the seasonally adjusted general government deficit to GDP ratio stood at 3.3% in the euro area and 3.2% in the EU. Sizeable increases in the deficits compared to the second quarter of 2022 were observed for the euro area and the EU. The deficit to GDP ratio mainly increased due to sizeable increases in total expenditure. Total revenue and total expenditure continued to be influenced by policy responses to the COVID-19 pandemic, although to a lesser degree than in previous quarters. Measures to alleviate the impact of high energy prices started to have a stronger impact on the government balance in the third quarter of 2022 and the majority of Member States continued to record a government deficit.