In the third quarter of 2024, the average seasonally adjusted general government deficit-to-GDP ratio was 2.6% in the euro area and 2.9% in the European Union, according to data published by the statistical office of the EU (Eurostat) on Wednesday 22 January.
Of the 26 Member States (all except Italy) for which data is available, 5 recorded a budget surplus: Ireland (14.5% of GDP), Cyprus (4.9%), Greece and Portugal (2.2% each) and the Netherlands (0.1%).
The highest deficits were recorded in Bulgaria (-8.7% of GDP), Romania (-8.6%), Poland (-6.7%) and France (-6.3%). Spain recorded a deficit slightly above the regulatory limit (-3.5%), while Germany was in line with the Stability and Growth Pact (-2.3%).
Public debt. Again according to Eurostat, at the end of 2024, the average ratio of public debt to GDP stood at 88.2% in the euro area and 81.6% in the EU.
The highest ratios were recorded in Greece (158.2%), Italy (136.3%), France (113.8%), Belgium (105.6%) and Spain (104.3%), while the lowest were in Estonia (24.0%), Bulgaria (24.6%) and Luxembourg (26.6%). (Original version in French by Mathieu Bion)