The government deficit to GDP ratio in the Euro Area edged down to 3.6% in 2023 from a revised 3.7% in 2022, with 11 Member States having deficits higher than 3% of GDP. Among the bloc's largest economies, the highest deficits were recorded in Italy (-7.4% of GDP), France (-5.5%), and Spain (-3.6%), while the smallest gaps were recorded in the Netherlands (-0.3%) and Germany (-2.5%). Additionally, only three countries recorded surpluses, including Cyprus (3.1%), Ireland (1.7%), and Portugal (1.2%). Government expenditure in the Eurozone was equivalent to 50.0% of GDP, and government revenue to 46.4%, with both ratios decreasing compared to 2022. source: EUROSTAT

Euro Area recorded a Government Budget deficit equal to 3.60 percent of the country's Gross Domestic Product in 2023. Government Budget in Euro Area averaged -3.08 percent of GDP from 1995 until 2023, 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 April of 2024.

Euro Area recorded a Government Budget deficit equal to 3.60 percent of the country's Gross Domestic Product in 2023. Government Budget in Euro Area is expected to reach -3.00 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Government Budget is projected to trend around -2.80 percent of GDP in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-04-21 09:00 AM Government Budget to GDP 2022 -3.6% -5.3% -3.5%
2024-04-22 09:00 AM Government Budget to GDP 2023 -3.6% -3.7% -3.2%


Related Last Previous Unit Reference
Government Budget to GDP -3.60 -3.70 percent of GDP Dec 2023
Government Debt 12260558.00 11813882.00 EUR Million Dec 2022
Government Debt to GDP 88.60 90.80 percent of GDP Dec 2023
Government Spending 629.22 625.58 EUR Billion Dec 2023
Government Spending to GDP 50.00 50.60 percent of GDP Dec 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
-3.60 -3.70 -0.40 -7.30 1995 - 2023 percent of GDP Yearly