Brussels, 22/10/2015 (Agence Europe) - The ratio of public deficit to GDP has fallen in the eurozone, from 3.0% in 2013 to 2.6% in 2014, and in the EU of 28, from 3.3% to 3.0%, according to the updated figures published by the statistical office of the EU (Eurostat) on Wednesday 21 October.
In 2014, Denmark (1.5% of GDP), Luxembourg (1.4%), Estonia (0.7%) and Germany (0.3%) recorded a public surplus. The lowest deficits were to be seen in Lithuania (0.7% of GDP), Romania (1.4%), Latvia (1.5%), Sweden (1.7%) and the Czech Republic (1.9%). 14 member states recorded a deficit equal to or greater than 3% of GDP: Cyprus (8.9% of GDP), Portugal (7.2%), Spain (5.9%), Bulgaria (5.8%), the United Kingdom (5.7%), Croatia (5.6%) and Slovenia (5.0%), Ireland and France (3.9% each), Greece (3.6%), Poland and Finland (3.3% each), Belgium (3.1%) and Italy (3.0%).
Conversely, the ratio of public debt to GDP rose in the eurozone and in the EU between 2013 and 2014, from 91.1% to 92.1% and from 85.5% to 86.8% respectively. The lowest ratios of public debt to GDP was seen in Estonia (10.4%), Luxembourg (23.0%), Bulgaria (27.0%), Romania (39.9%), Latvia (40.6%) and Lithuania (40.7%). 16 member states showed a public debt ratio of more than 60% of GDP, with the highest of these in Greece (178.6%), Italy (132.3%), Portugal (130.2%), Cyprus (108.2%), Ireland (107.5%) and Belgium (106.7%).
In 2014, public expenditure in the eurozone represented 49.4% of GDP and public revenue 46.8%. In the EU of 28, these were 48.2% and 45.2% of GDP respectively. Between 2013 and 2014, the ratio of public expenditure fell in both areas, whilst the ratio of public revenue rose in the eurozone and fell in the EU of 28. (Original version in French by Mathieu Bion)