Government deficit and debt increased significantly in 2020 compared to 2019 in the eurozone and the European Union due to emergency measures to combat the Covid-19 pandemic, according to data released by the EU's statistical office (Eurostat) on Thursday 22 April.
The government deficit-to-GDP ratio increased in the eurozone from 0.6% in 2019 to 7.2% in 2020, as well as in the EU, from 0.5% to 6.9%. The same applies to the public debt to GDP ratio, which increased from 83.9% at the end of...