Brussels, 23/10/2012 (Agence Europe) - According to data published on Monday by the European Union Statistical Office, in 2011 the government deficit of both the euro area and the EU27 decreased in absolute terms compared with 2010, while government debt rose in both zones.
In the eurozone the government deficit to GDP ratio decreased from 6.2% in 2010 to 4.1% in 2011. Only Estonia registered a budget surplus (+1.1% of GDP). The lowest government deficits relative to GDP were recorded in Luxembourg (-0.3%), Finland (-0.6%) and Germany (-0.8%), while the highest deficits were recorded in Ireland (-13.4%), Greece and Spain (both -9.4%) and Slovenia (-6.4%). The average level of debt rose from 85.4% in 2010 to 87.3% in 2011. The lowest ratios of government debt to GDP were recorded in Estonia (6.1%) and Luxembourg (18.3%), while the highest levels were in Greece (170.6%), Italy (120.7%), Portugal (108.1%), Ireland (106.4%).
Outside the euro zone, Hungary (+4.3%) and Sweden (+0.4%) recorded surpluses. The highest deficits were observed in United Kingdom (-7.8%), Lithuania and Romania (-5.5 %) and Poland (5%). The lowest levels of debt were observed in Bulgaria (16.3%), Romania (33.4%), Sweden (38.4%), whilst the highest levels in the United Kingdom (85%) and Hungary (81.4%). (MB/transl.fl)