The government deficit to GDP ratio in the Euro Area fell to 5.1 percent in 2021 from a downwardly revised 7.1 percent in 2020, the first 2022 notification by EU Member States for the application of the excessive deficit procedure (EDP) showed. Considering the European Union as a whole, the government deficit to GDP dropped to 4.7 percent from 6.8 percent. All Member States except Denmark (+2.3%) and Luxembourg (+0.9%), reported a deficit. The highest deficits were recorded in Malta (-8.0%), Greece (-7.4%), Latvia (-7.3%), Italy (-7.2%), Romania (-7.1%), Spain (-6.9%), Hungary (-6.8%), France (-6.5%) and Slovakia (-6.2%). Fifteen Member States had deficits higher than 3% of GDP. source: EUROSTAT
Government Budget in the Euro Area averaged -3.01 percent of GDP from 1995 until 2021, reaching an all time high of -0.40 percent of GDP in 2018 and a record low of -7.30 percent of GDP in 1995. This page provides - Euro Area Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Government Budget - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
Government Budget in Euro Area is expected to reach -3.90 percent of GDP by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Government Budget is projected to trend around -2.60 percent of GDP in 2023 and -2.40 percent of GDP in 2024, according to our econometric models.