In the first quarter of 2018, seasonally adjusted general government deficit stood at 0.1% of GDP in the Eurozone, according to figures published by the statistical office of the European Union (Eurostat) on Friday 20 July.
This is down 0.5% compared to the previous quarter, and down 1% compared to the first quarter of 2017. This seasonally adjusted government deficit also fell in the EU as a whole, to 0.5% of GDP in the first quarter of 2018, compared to 0.6% of GDP in the fourth quarter and 1.1% of GDP in the first quarter of last year.
The average government debt to GDP ratio was 86.8% of GDP in the first quarter of 2018 in the Eurozone, representing an increase of 0.1% on the previous quarter. However, it also represents a fall of 2.4% compared to the first quarter of the year 2017. In the EU as a whole, the government debt rate stood at 81.5% of GDP in the first quarter of 2018, or a drop of 0.1% compared to the previous quarter and of 2.1% from the first quarter of 2017.
These average rates mask considerable disparities, with government debt to GDP ratios standing at 180.4% in Greece and 133.4% in Italy, whilst those of Luxembourg and Estonia were 22.2% and 8.7% respectively. (Original version in French by Lucas Tripoteau)