The government deficit to GDP ratio in the Euro Area fell to 5.1 percent in 2021 from a downwardly revised 7.1 percent in 2020, the first 2022 notification by EU Member States for the application of the excessive deficit procedure (EDP) showed. Considering the European Union as a whole, the government deficit to GDP dropped to 4.7 percent from 6.8 percent. All Member States except Denmark (+2.3%) and Luxembourg (+0.9%), reported a deficit. The highest deficits were recorded in Malta (-8.0%), Greece (-7.4%), Latvia (-7.3%), Italy (-7.2%), Romania (-7.1%), Spain (-6.9%), Hungary (-6.8%), France (-6.5%) and Slovakia (-6.2%). Fifteen Member States had deficits higher than 3% of GDP. source: EUROSTAT

Government Budget in the Euro Area averaged -3.01 percent of GDP from 1995 until 2021, 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 July of 2022.

Government Budget in Euro Area is expected to reach -3.90 percent of GDP by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Government Budget is projected to trend around -2.60 percent of GDP in 2023 and -2.40 percent of GDP in 2024, according to our econometric models.

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Euro Area Government Budget



Calendar GMT Actual Previous Consensus TEForecast
2021-04-22 09:00 AM 2020 -7.2% -0.6% -8.6%
2022-04-22 09:00 AM 2021 -5.1% -7.1% -7.1%


Related Last Previous Unit Reference
Government Debt to GDP 95.60 97.20 percent of GDP Dec 2021
Government Budget -5.10 -7.10 percent of GDP Dec 2021
Government Spending 611.79 613.88 EUR Billion Mar 2022
Government Spending to GDP 54.10 47.00 percent of GDP Dec 2020
Government Debt 11107741.00 10027455.00 EUR Million Dec 2020

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
-5.10 -7.10 -0.40 -7.30 1995 - 2021 percent of GDP Yearly