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EU gov't expenditure accounts for nearly half of GDP in 2014: Eurostat

Xinhua, July 7, 2015 Adjust font size:

Total general government expenditure amounted for nearly half of the GDP both in the European Union (EU) and the Eurozone in 2014, Eurostat, the statistical office of the EU said on Tuesday.

Figures released by Eurostat showed that total EU government expenditure amounted to 6701 billion euros (7330 billion U.S. dollars), represented 48.1 percent of EU GDP in 2014, compared with 48.6 percent in 2013.

In the euro area, the share stood at 49 percent in 2014 compared with 49.4 percent in 2013.

Among EU Member States, general government expenditure varied in 2014 from less than 35 percent of GDP in Lithuania and Romania to more than 57 percent in Finland, France and Denmark.

Eurostat said in all EU Member States, social protection represented the most important area of general government expenditure.

However, Member States differ somewhat in the second most important area of general government expenditure, including expenditure related to health, general public services and economic affairs expenditure. Endit