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Euro area and EU government deficit at 0.9% and 1.0% of GDP respectively

According to data released by Eurostat on 23 April, in 2017, the government deficit and debt of both the euro area and the EU decreased in relative terms compared with 2016.

date:  03/05/2018

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According to data released by Eurostat on 23 April, in 2017, the government deficit and debt of both the euro area and the EU decreased in relative terms compared with 2016. In the euro area the government deficit to GDP ratio fell from 1.5% in 2016 to 0.9% in 2017, and in the EU from 1.6% to 1.0%. In the euro area the government debt to GDP ratio declined from 89.0% at the end of 2016 to 86.7% at the end of 2017, and in the EU from 83.3% to 81.6%. In 2017, government expenditure in the euro area was equivalent to 47.1% of GDP and government revenue to 46.2%. The figures for the EU were 45.8% and 44.9% respectively. In both zones the government expenditure ratio decreased between 2016 and 2017, while the government revenue ratio increased. These government deficit and debt data are based on figures reported in the first 2018 notification by EU Member States for the years 2014-2017, for the application of the excessive deficit procedure.