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.