Government Spending in European Union increased to 699.27 EUR Billion in the fourth quarter of 2020 from 692.60 EUR Billion in the third quarter of 2020. source: EUROSTAT

Government Spending in European Union averaged 582.02 EUR Billion from 1995 until 2020, reaching an all time high of 699.27 EUR Billion in the fourth quarter of 2020 and a record low of 463.71 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 May of 2021.

Government Spending in European Union is expected to be 705.00 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 702.00 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
699.27 692.60 699.27 463.71 1995 - 2020 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 [+]
Government Budget -6.90 -0.50 -0.40 -7.20 percent of GDP [+]
Asylum Applications 7090.00 31585.00 162050.00 7090.00 persons [+]
Government Spending 699.27 692.60 699.27 463.71 EUR Billion [+]
Government Spending To GDP 46.70 46.60 53.20 45.60 percent [+]
Government Debt 12078219.00 10838269.00 12078219.00 5221120.00 EUR Million [+]
Credit Rating 98.00 [+]

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.