The government deficit to GDP ratio in the Euro Area rose to 7.2 percent in 2020 from 0.6 percent in 2019, amid efforts to curb the spread of COVID-19 and support businesses and households hit by the pandemic. It was the largest gap since a record high of 7.3 percent hit in 1995. All Member States, had deficits higher than 3 percent of GDP. The highest gaps were recorded in Spain (-11.0 percent), Malta (-10.1 percent), Greece (-9.7 percent), Italy (-9.5 percent), Belgium (-9.4 percent), France (-9.2 percent) and Austria (-8.9 percent). The government debt to GDP ratio increased to 98 percent at the end of 2020, from 83.9 percent at the end of 2019. source: EUROSTAT

Government Budget in the Euro Area averaged -2.93 percent of GDP from 1995 until 2020, reaching an all time high of -0.50 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 July of 2021.

Government Budget in Euro Area is expected to reach -8.00 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Government Budget is projected to trend around -4.00 percent of GDP in 2022 and -1.70 percent of GDP in 2023, according to our econometric models.

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Euro Area Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-7.20 -0.60 -0.50 -7.30 1995 - 2020 percent of GDP Yearly

Calendar GMT Actual Previous Consensus TEForecast
2018-04-23 09:00 AM 2017 -0.9% -1.5%
2019-04-23 09:00 AM 2018 -0.5% -1% -0.8%
2020-04-22 09:00 AM 2019 -0.6% -0.5% -0.8%
2021-04-22 09:00 AM 2020 -7.2% -0.6% -8.6%

Euro Area Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.