The eurozone reduced its budget deficit to 5.1% of GDP in 2021. 629,819 million eurosAccording to data released by Eurostat, it reduced its debt ratio from 97% to 95.4%, compared to a negative imbalance of 7% (807,175 million) a year earlier, which amounts to 11.74 billion.
Inside the whole of the European Union (EU) closed the public deficit at 4.6% of GDP in 2021, equivalent to an imbalance of €673.13 million compared to 6.7% in 2020. Likewise, the accumulated debt in 2021 reached 12.76 trillion, 87.9% of GDP compared to 89.8% in 2020.
In 2021, all EU countries except Denmark (+3.6%) and Luxembourg (+0.8%) recorded a negative budget balance. The largest deficits are Malta (-7.8%), Greece (-7.5%), Italy (-7.2%), Hungary and Romania (both -7.1%), Latvia (-7%), Spain (-6.9%). was recorded. and France (-6.5%). In total, 15 countries out of 27 closed 2021 with a deficit of more than 3% of GDP.
on your side, lowest rates public debt to GDP ratios were recorded in Estonia (17.6%), Bulgaria (23.9%), Luxembourg (24.5%), Sweden (36.3%) and Denmark (36.6%).
By the end of 2021, Public debt ratios of 14 EU members are over 60% of GDP, the highest being Greece (194.5%), Italy (150.3%), Portugal (125.5%), Spain (118.3%), France (112.8%), Belgium ( 109.2% and Cyprus (101%).
fell to 2.1% in the second quarter
In addition, the public deficit in terms of the euro area’s gross domestic product (GDP), -2.1% in the second quarter Compared to negative imbalances of -2.5% and -2.3% respectively recorded in the previous quarter, it represents the lowest deficit since the fourth quarter of 2019 in both cases, -1.8% in the European Union (EU). Completed before the Covid-19 pandemic.
“The deficit/GDP ratio decreased” due to stronger increases in total income compared to total expenditure, as well as higher GDP compared to the first quarter of 2022,” explained Eurostat, the community statistics office.
In this sense, the agency, between April and June 2022, total revenue and total expense They continued to be impacted by the measures taken in response to the Covid-19 pandemic, but “to a lesser degree than in previous quarters.”
Among twenty-seven countries, the biggest deficits were seen in the second quarter. malt (-6.6%) and also Spain (-4.2%), Belgium (-4%) and France (-3.9%), the largest surpluses were in Portugal (3%), the Netherlands and Sweden (both 2.4%), Lithuania (1.9%) and Estonia (1.8%) .