Government Spending in European Union decreased to 701.78 EUR Billion in the first quarter of 2021 from 702.69 EUR Billion in the fourth quarter of 2020. source: EUROSTAT

Government Spending in European Union averaged 583.31 EUR Billion from 1995 until 2021, reaching an all time high of 702.69 EUR Billion in the fourth quarter of 2020 and a record low of 464.06 EUR Billion in the first quarter of 1995. This page provides - European Union Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news. European Union Government Spending - values, historical data and charts - was last updated on July of 2021.

Government Spending in European Union is expected to be 707.00 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Spending in European Union to stand at 701.00 in 12 months time. In the long-term, the European Union Government Spending is projected to trend around 701.00 EUR Billion in 2022 and 703.00 EUR Billion in 2023, according to our econometric models.

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European Union Government Spending

Actual Previous Highest Lowest Dates Unit Frequency
701.78 702.69 702.69 464.06 1995 - 2021 EUR Billion Quarterly
Constant Prices 2015, SA

European Union Government Last Previous Highest Lowest Unit
Government Debt To GDP 90.70 77.50 90.70 62.20 percent of GDP [+]
Government Budget -6.90 -0.50 -0.40 -7.20 percent of GDP [+]
Government Debt 12078219.00 10838269.00 12078219.00 5221120.00 EUR Million [+]
Government Spending 701.78 702.69 702.69 464.06 EUR Billion [+]
Government Spending To GDP 53.40 46.60 53.40 45.60 percent of GDP [+]
Credit Rating 98.00 [+]
Asylum Applications 30665.00 36740.00 162020.00 7970.00 persons [+]

European Union Government Spending
Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth.