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Euro zone gov't deficit rises in Q4 2014

Xinhua, April 23, 2015 Adjust font size:

In the fourth quarter of 2014, the seasonally adjusted general government deficit to GDP ratio stood at 2.4 percent in the euro area, an increase compared with 2.2 percent in the previous quarter, official figures showed on Thursday.

In the wider 28-nation European Union (EU), the deficit to GDP ratio fell slightly to 2.6 percent of GDP, from 2.8 percent in the previous quarter, according to data released by Eurostat, the statistical office of the EU.

In the fourth quarter of 2014, total government revenue in the euro zone amounted to 46.7 percent of GDP, compared with 46.6 percent in the third quarter.

Meanwhile, total government expenditure in the euro area stood at 49.1 percent of GDP, up from 48.8 percent in the previous quarter.

According to European rules, the euro zone government deficit must remain below 3 percent of the GDP, and public debt must be maintained below 60 percent of the GDP. Endit