European Union recorded a Government Budget deficit equal to 0.70 percent of the country's Gross Domestic Product in 2018. Government Budget in European Union averaged -2.87 percent of GDP from 2001 until 2018, reaching an all time high of -0.70 percent of GDP in 2018 and a record low of -6.60 percent of GDP in 2009.
Government Budget in European Union is expected to be -0.90 percent of GDP by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the European Union Government Budget is projected to trend around -1.20 percent of GDP in 2020, according to our econometric models.